Asia report: Markets finish mixed ahead of New Year's Eve

Markets in Asia finished mixed on Monday, which was the last full trading session for a number of major bourses in the region.

In Japan, the Nikkei 225 was down 0.76% at 23,656.62, as the yen strengthened 0.34% against the dollar to last trade at JPY 109.07.

The major components of the benchmark index were all red, with Fanuc down 1.81%, Fast Retailing off 1.32%, and SoftBank Group 0.29% weaker.

Carmakers were also widely negative, with Honda down 1.15%, Mitsubishi off 1.29%, and Suzuki 1.04% weaker.

The broader Topix index was 0.68% weaker by the end of trading in Tokyo, closing the session at 1,721.36.

On the mainland, the Shanghai Composite was up 1.16% at 3,040.02, and the smaller, technology-heavy Shenzhen Composite rose 0.92% at 1,713.51.

Over the weekend, the People’s Bank of China announced it would use the loan prime rate as its new benchmark to price floating rate loans.

Analysts said that would cut borrowing costs in the country, and help boost the economy.

South Korea’s Kospi was 0.3% weaker at 2,197.67, while the Hang Seng Index in Hong Kong was 0.33% firmer at 28,319.39.

Both of the blue-chip technology stocks were in the red in Seoul, with Samsung Electronics down 1.24% and chipmaker SK Hynix losing 1.98%.

China private university company Shanghai Gench Education Group announced it was planning to list in Hong Kong during the session, having filed an application to list over the weekend.

Details on the timing and pricing of the planned initial public offering were not revealed, however.

Oil prices were higher as the region went to bed, with Brent crude last up 1% at $68.85 per barrel, and West Texas Intermediate rising 0.76% to $62.19.

In Australia, the S&P/ASX 200 lost 0.25% to 6,804.90, as the major miners were in the red, as Fortescue Metals was down 1.09% and Rio Tinto off 0.89% in Sydney trading.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 was off 0.4% at 11,556.45, although retirement property stocks were given a boost by the NZD 1.5bn takeover bid for Metlifecare, which emerged last week.

Metlifecare itself was up 6.74%, while peers Ryman Healthcare added 2.14% and Summerset Group was 1.69% firmer.

Both of the down under dollars were stronger on the greenback, with the Aussie last ahead 0.29% at AUD 1.4286, and the Kiwi advancing 0.49% to NZD 1.4853.