Asian markets mixed; chip makers hit

MUMBAI: Asian markets were trading mixed Friday ahead of the US jobs data to be released today.

Japan’s Nikkei average was at 17,063, down 0.17 per cent weighed down by chip-makers.

Advantest Corporation declined over 4.1 per cent, Tokyo Electron fell 2.3 per cent. Chip-makers have been easing since Thursday after Morgan Stanley advised clients to sell Intel and Advanced Micro Devices.

Casio Computer tumbled 19.1 per cent after it cut operating profit forecast for the current business year by 30 per cent due to sluggish mobile phone sales.

South Korea’s Seoul Composite was at 1995, down 0.38 per cent dragged by chip-makers on expectations of lower third-quarter operating profits. Hynix fell 1.5 per cent and Samsung Electronics declined 2.3 per cent.

Hang Seng ended a two-day fall to open 1.3 per cent higher. Reports that the Hong Kong government plans to cut taxes on profits and salaries boosted sentiments. The index was up 1.54 per cent at 27,329.65.

Singapore’s Strait Times was at 3804, down 0.54 per cent and Taiwan’s Taiwan Weighted was down 0.35 per cent at 9594.