Asia report: Markets mixed as Toshiba leads Japan lower

Markets in Asia limped through the close on Thursday, with Japan one of the big losers as technology giant Toshiba continued its freefall.

The Nikkei 225 was off 1.32% at 19,145.14, with both the Toshiba turmoil and a strong yen weighing on domestic equities.

Against the greenback, the yen was last 0.6% stronger at JPY 116.56 per $1.

Toshiba was down 16.98% during the session, after its ratings with Moody’s and S&P were downgraded.

Both agencies also put the technology conglomerate on ratings watch with negative implications.

The moves came after the company announced on Tuesday that it was eyeing up a several billion-dollar write down over its acquisition of a US nuclear power plant developer.

Embattled airbag manufacturer Takata turned out in green, surging 16.47% and hitting its daily price ceiling.

The positivity around Takata came after reports that it was coming close to a settlement with the US Department of Justice, with rumours swirling that it will cough up $1bn in response to allegations of criminal negligence around its faulty airbag inflators.

On the mainland, the Shanghai Composite was off 0.18% at 3,096.56, while the Shenzhen Composite finished 0.31% lower at 1,966.24.

South Korea’s Kospi was up 0.1% at 2,026.46, with the country’s finance ministry revising down its 2017 gross domestic product forecast during the session.

It was sent to 2.6% from a previous outlook of 3% growth.

Official data also showed that industrial output was up, surging 3.4% in November compared to the prior month.

That was the reading’s best monthly gain since 2009.

Hong Kong’s Hang Seng Index was up 0.17% by the close, settling at 21,790.91.

Oil prices were higher overnight on Wednesday, leading to early gains during Asian trading.

Prices were mixed by the time Europe took the baton, however, with Brent crude last up 0.09% at $56.27 per barrel and West Texas Intermediate down 0.45% at $53.82.

In Australia, the S&P/ASX 200 was up 0.25% to 5,699.07.

It was underpinned during the session by a 3.25% jump in the all ordinaries gold subindex.

New Zealand's benchmark S&P/NZX 50 edged up 0.2% to 6,892.28, driven higher by dairy exporter A2 Milk, which was up 2.4%.

Both of the down under dollars were stronger, with the Aussie last ahead 0.53% against the greenback at AUD 1.3859 and the Kiwi strengthening 0.48% at NZD 1.4831 per $1.