Asia Markets

Asia shares mixed as Iraq fears offset record US close

Asian stocks ended mixed on Friday as concerns over Iraq overshadowed another record close on Wall Street overnight.

U.S. stocks were little changed on Thursday, but the managed to inch up to a second straight record high. Meanwhile, Brent crude traded near a nine-month high after U.S. President Barack Obama said he would send 300 military advisers to help Iraq battle rebel Sunni fighters.

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Nikkei flat

Japanese shares ended near the previous day's four-month highs, posting a 1.7 percent increase for the week - their fifth straight week of gains.

Sentiment was supported by a Reuters poll that showed more than half of companies said they would consider investing tax proceeds on capital expenditure.

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Sumitomo Precision Products jumped 5 percent after the Nikkei newspaper reported that the company aims to boost sales of the shale gas business by 60 percent in three years.

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China shares higher

Mainland shares reversed losses in the final hour of trade to end 0.1 percent higher, snapping a three-day losing streak. Earlier, shares fell on fears of tight liquidity after four initial public offerings raised $290 million following Beijing's four month hiatus on offerings. The mood was also cautious ahead of HSBC's preliminary manufacturing data for June, due Monday.

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Infrastructure shares were among the biggest losers. Daqin Railway eased 0.4 percent while cement maker Anhui Conch dipped 0.6 percent.

Hong Kong's benchmark Hang Seng Index inched up 0.2 percent, snapping three days of losses.

ASX slips 0.9%

Australia's benchmark S&P ASX 200 index fell on profit-taking after Thursday's 1 percent rally. For the week, the index added 0.6 percent, ending three straight weeks of declines.

Gold miners rallied after prices of the yellow metal surged more than 3 percent to a two-month high overnight. Newcrest Mining jumped over 4 percent while Kingsgate Consolidated rallied nearly 7 percent.

Hotel operator Mantra Group closed two cents below its offer price in its market debut.

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Kospi down 1.3%

South Korean ended at their lowest levels in over a month, weighed down by a 1.6 percent loss in Samsung Electronics. Automakers Hyundai Motor and Kia Motors tumbled 2.5 and 3 percent, respectively.

LG Display eased 1.8 percent after Reuters reported that it was one of the suppliers for Apple Smartwatch.

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Sensex drops 0.4%

Indian shares bounced between gains and losses in choppy trade and finished 0.4 percent lower.