Asia report: Stocks end mixed after lighter trading

Asian markets finished mixed on Thursday, with low volumes suggesting investors were keeping their wallets closed as oil prices continued their declines.

In Japan, the Nikkei 225 was up by less than a point at 17,862.63, with the yen hanging around the 108 level against the greenback it had been sitting at on Wednesday.

It was last 0.11% stronger at JPY 108.96 per $1.

During the session, the Bank of Japan confirmed it would by 10-year Japanese government bonds in a bid to keep yields around the nought per cent mark.

It was the central bank’s first foray into the bond market since September, when it announced new policy to target yields on the 10-year JGBs.

The news sent Japan’s banks southwards, with Mitsubishi UFJ down 1.41%, Mizuho off 0.55% and Sumitomo Mitsui Financial Group losing 1.36%.

On the mainland, the Shanghai Composite was up 0.11% at 3,208.67, while the Shenzhen Composite headed in the opposite direction, down 0.37% at 2,16.85.

South Korea’s Kospi was up 0.05% at 1,980.55, having opened an hour late while the country’s national university entrance examinations took place.

In Hong Kong, the Hang Seng Index was down 0.08% at 22,262.88.

Oil prices were higher, with Brent crude last up 0.51% at $46.87 per barrel and West Texas Intermediate adding 0.33% at $45.72.

Australia’s S&P/ASX 200 added 0.2% to finish at 5,338.50, though it was dragged down by its energy subindex, which lost 1.2%.

Of the major oil players in the sunburnt country, Oil Search finished flat, while Santos lost 2.71% and Woodside Petroleum fell 1.61%.

Business technology firm CSG lowered its EBITDA guidance for the full year during the session, sending its shares tumbling 36.89%.

Rio Tinto was up in Sydney, by 1.14%, after it confirmed two of its directors had their positions terminated as the investigation into improper payments to a consultant continued.

In New Zealand, the S&P/NZX 50 fell 0.2% to settle at 6,814.65.

It was led lower by Metro Performance Glass, which lost 3.1%, and Fletcher Building, which was down 2.7%.

Both stocks had rallied in the wake of Sunday night’s massive 7.8 earthquake in the northern part of the South Island, which killed two people and left thousands stranded as highways and railway lines were severed.

The New Zealand government was continuing to assess the damage, warning that the bill could reach into the billions of NZD, with more than 2,000 aftershocks having rattled the region in the four days since the main tremor.

It was a mixed day for the down under dollars, with the Kiwi last 0.34% stronger at NZD 1.4091 against the greenback, while the Aussie was 0.16% weaker at AUD 1.3390 pe $1.

“The Aussie has been under pressure due to rising US bond yields and the jittery regional EM markets,” noted OANDA senior trader Stephen Innes.

“However, it took little more than a reversal off recent highs on commodity prices to set the wheels in motion for a probe below 0.7500.”