Stocks higher in Tokyo, but slipping in Hong Kong

Dow Jones, Singapore

Asian stock markets ended the week mixed Friday, with indexes edging higher in Tokyo but slipping in Hong Kong.

Japan's 225-issue Nikkei Stock Average ended up 0.39 point, insignificant in percentage terms, at 10205.87. On Thursday, it rose 281.25 points, or 2.83 percent.

The Nikkei crawled back into positive territory late in the session after giving up ground on profit-taking.

Technology stocks led the way, helped by news that electronics giant TDK Corp. plans to restructure its global operations. Some traders said buying by public funds may have lifted the market.

Some investors were out of action ahead of a three-day weekend in Japan, traders said. Financial markets in Japan will be closed Monday for a national holiday.

In currency trading, the U.S. dollar was quoted at 120.52 yen, up from late Thursday in Tokyo but below its overnight level of 120.64 yen late in New York.

Taiwan shares closed sharply higher after government funds bought select technology shares, taking advantage of the recent uptrend following the central bank's rate cut Wednesday.

The Weighted Price Index of the Taiwan Stock Exchange rose 91.80 points, or 2.6 percent to 3585.46.

In Hong Kong, the blue-chip Hang Seng Index slipped 9.01 points, or 0.9 percent, finishing at 10277.38. On Thursday, the index had soared 389.25 points, or 3.9 percent.

Brokers said the market was hit by selective profit-taking in property and banking stocks following Thursday's sharp gains in prices.

The telecommunications sector was mixed following gains in U.S. technology stocks on Wall Street Thursday.

The Dow Jones Industrial Average fell 62.90, or 0.8%, to 9060.88 points in New York on Thursday, while the Nasdaq Composite Index rose 16.50 to 1597.31 points.

In Singapore, share prices closed higher, boosted by late buying from institutional investors. The Straits Times Index rose 7.71 points, or 0.6 percent, to 1385.45.

Philippine stocks finished at a new three-year low on uncertainty over the economic effects from possible U.S. retaliatory action against terrorists. The 30-company Philippine Stock Exchange Index fell 6.49 points, or 0.6 percent, to 1088.44.

Shares in Australia closed higher after conservative Prime Minister John Howard called a federal election on Nov. 10. The All Ordinaries Index rose 46.70 points, or 1.5 percent, to 3114.20.

South Korean shares ended mixed, with the main index rising slightly higher as late technical buying overcame earlier profit- taking. The Korea Composite Stock Price Index, or Kospi, rose 0.3 percent, or 1.28 points, to 501.92.

Indonesian share prices finished mixed. The JSX Composite Index rose 0.1 percent, or 0.347 point, to 381.588.

Stock in Malaysia closed lower as many investors stayed on the sidelines due to global economic uncertainties. The Composite Index, which tracks 100 key stocks, fell 2.05 points, or 0.3 percent, to 609.00.

Thai share prices ended lower due to profit-taking amid fears of possible U.S. military attacks against Afghanistan. The Stock Exchange of Thailand Index fell 2.14 points lower, or 0.8 percent, to 280.88.