Asia report: Most markets higher as sentiment wavers

Most markets in Asia were in the green as they closed on Thursday, after a day in which sentiment wavered amid concerns around the ongoing US-China trade war, and the outlook for the global economy.

In Japan, the Nikkei 225 slipped 0.09T% to 20,574.63, as the yen weakened 0.13% against the dollar to last trade at JPY 109.74.

The broader Topix index, on the other hand, managed to reverse earlier losses to close 0.36% ahead at 1,552.60.

On the mainland, the Shanghai Composite was 0.41% higher at 2,591.69, and the smaller, technology-heavy Shenzhen Composite moved up 0.4% to 2,591.69.

South Korea’s Kospi grew 0.81% to 2,145.03, while the Hang Seng Index in Hong Kong was ahead 0.42% at 27,120.98.

Seoul’s technology sector was in focus, with chip manufacturer SK Hynix surging 5.54%, even after it reported quarterly earnings that came in below expectations.

The firm put the result, which as its first fall in earnings for two years, down to lower prices in the computer chip market.

Oil prices fell as the region went to bed, with Brent crude last down 0.92% at $60.58 per barrel, and West Texas Intermediate falling 0.75% to $52.23.

In Australia, the S&P/ASX 200 rose 0.38% to finish at 5,865.70, with the energy subindex among the biggest winners.

On the economic front down under, official employment statistics came in ahead of expectations, with 21,600 new jobs created in December.

That was much higher than the 16,500 analysts were anticipating, with Australia’s unemployment rate also beating expectations, at 5.0% compared to the 5.1% forecast.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 eked out gains of 0.03% to close at 9,108.91, led higher by payment technology firm Pushpay, which rose 5.8%.

Both of the down under dollars were weaker on the greenback, with the Aussie last off 0.58% at AUD 1.4085, and the Kiwi retreating 0.22% to NZD 1.4764.