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Asian markets close mixed after earlier gains on Wall Street

Asian stock markets closed mixed on Friday, with the key index in Tokyo rising to a 21-month high following gains on Wall Street.

Tokyo's Nikkei Stock Average of 225 issues rose 239.74 points, or 2.08 percent, to 11,770.65 -- its highest close since June 3, 2002, when it ended at 11,901.39. On Thursday, the index gained 165.92 points, or 1.46 percent.

The Nikkei surged after big gains by US technology shares on Wall Street prompted investors to buy their Japanese counterparts.

Among strong gainers in Tokyo were technology blue chips Sony, NEC and Hitachi, as well as Matsushita Electric and Advantest.

Overnight in New York, the Dow Jones industrial average rose 170.59 points, or 1.7 percent, to 10,218.82, while the Nasdaq composite index soared 57.69 points, or 3.0 percent, to 1,967.17.

In currency trading, the US dollar was quoted at 105.69 yen, down 0.27 yen from late Thursday, and below the 106.17 yen it bought in New York later that day.

Taiwan shares closed lower on concerns that a planned weekend protest over the disputed presidential election could further complicate the controversy, traders said.

The Weighted Price Index of the Taiwan Stock Exchange fell 24.11 points, or 0.4 percent, to 6,132.62.

In Hong Kong, the blue-chip Hang Seng Index slipped 36.97 points, or 0.29 percent, to 12,483.24. On Thursday, the index lost 157.92 points, or 1.25 percent.

Share prices opened higher following Thursday's gains on Wall Street, but late profit-taking pushed the key index into negative territory on concerns about the political turmoil in Taiwan, traders said.

In Singapore, shares closed mixed as late profit-taking prompted by caution ahead of the weekend erased early gains. The Straits Times Index fell 3.29 points, or 0.2 percent, to 1,827.11.

In Wellington, New Zealand shares closed higher. The benchmark NZSX-Gross Index rose 27.86 points, or 1.09 percent, to 2,575.62.

In Manila, Philippine shares closed slightly lower. The 30-company Philippine Stock Exchange Index fell 2.20 points, or 0.2 percent, to 1,390.92.

In Sydney, Australian shares closed higher following gains on Wall Street. The All Ordinaries Index rose 28.50 points, or 0.84 percent, to 3,424.20.
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