Asian stocks mixed, Tokyo down

Associated Press, Hong Kong

Asian stocks closed mixed Thursday, with Tokyo prices giving up early gains to finish with a loss, but Hong Kong shares rising slightly as traders decided the latest U.S. economic numbers weren't as bad as expected.

In Japan, stocks finished lower for a fifth consecutive session on worries over corporate earnings in the global economic downturn.

The benchmark 225-issue Nikkei Stock Average fell 19.06 points, or 0.2 percent, to 10347.28. Wednesday, the Nikkei had dropped 146.48 points, or 1.4 percent.

Hong Kong share prices moved slightly higher following the release of data showing that the economy of the U.S. - Hong Kong's major export market - had shrunk less than expected.

The Hang Seng Index rose 84.88 points, or 0.8 percent, to 10158.85. The Hang Seng had lost 2.5 points, or 0.02 percent Wednesday.

Thai stocks fell as investors cashed in recent gains in Phoenix Pulp & Paper. The Stock Exchange of Thailand Index lost 1.45 points, or 0.5 percent, to 273.64.

Indonesian shares closed lower on losses in cement maker Semen Gresik after villagers threatened to seize one of its units in a bid to force the government to spin off the West Sumatra-based company from its parent.

The JSX Composite index slipped 0.5 percent, or 1.736 points, to 381.999.

Malaysian shares were mixed in lackluster trading, with the benchmark Composite Index dropping 4.05 points, or 0.7 percent, to 596.02, breaching the key 600-point psychological barrier.

South Korean shares rose on foreign buying in technology companies.

The Korea Composite Stock Price Index, or Kospi, was up 6.28 points, or 1.2 percent, at 544.09.

Singapore shares closed lower on losses in systems integrator Datacraft Asia, which warned first-half profit would tumble. The Straits Times Index fell 20.33 points, or 1.5 percent, to 1347.51.