Asian stocks end mixed with major markets up

Asian stocks end mixed with major markets up

HONG KONG (AP): Asian stocks closed mixed Wednesday, with larger markets ending higher while fears of a rise in U.S. interest rates dragged down some smaller exchanges.

Tokyo shares rose as investors bought high-tech and telecommunications shares.

The benchmark 225-issue Nikkei Stock Average climbed 215.66 points, or 1.14 percent, to close at 19,111.19. On Tuesday, the average closed down 161.18 points, or 0.85 percent.

In Hong Kong, blue chips ended sharply higher, fueled by gains in Pacific Century Cyberworks following the high-tech company's massive share placement.

The Hang Seng Index rose 324.68 points, or 2.2 percent, closing at 15,427.72. On Tuesday, the index fell 64.51 points, or 0.4 percent.

CyberWorks skyrocketed 7.2 percent, or 1.20 Hong Kong dollars, to 17.85 after placing 188 million shares at 15.80 each. Trading in the issue accounted for about a third of total market turnover.

Taiwanese shares soared, boosted by Taiwan Semiconductor Manufacturing's rally, both on the U.S. Nasdaq Stock Market and in Taipei.

The Weighted Stock Price Index finished up 209.59 points, or 2.2 percent, at 9,581.96.

In Jakarta, Indonesian shares ended lower as local investors sold blue chips. The JSX Composite Index closed down 6.473 points, or 1 percent, at 643.385 points.

In Kuala Lumpur, Malaysian shares ended lower as investors sold stocks of the Renong group of companies. The Composite Index finished down 11.11 points, or 1.1 percent, at 940.95 points.

In Bangkok, Thai share prices closed lower as foreign investor sold blue-chips across the board. The Composite Index fell 4.00 points, or 0.8 percent, to 469.22.

In Singapore, shares ended higher on buying in the banking and technology sectors. The Straits Times Index rose 20.67 points, or 0.9 percent, to 2,259.50.

In Seoul, South Korean shares fell as local retail investors sold telecommunications stock. The Kospi ended down 5.68 points, or 0.6 percent, at 885.54.

In Wellington, New Zealand prices closed virtually unchanged. The benchmark NZSE-40 Capital Index closed 0.90 point lower at 2,062.40.

In Manila, Philippine stocks plunged on worries over a central bank plan to tighten the requirements for reporting foreign currencies brought into the country, as well as concerns over a possible U.S. interest rate increase. The 30-company Philippine Stock Exchange Index fell 48.69 points, or 2.4 percent, to 1,998.59.

In Sydney, the market was closed for a holiday.