Asia report: Markets mixed after Nikkei hits 26-year high

The Nikkei 225 ended the day down 0.44% at 23,763.37, as the yen held steady against the dollar, last weakening just 0.01% to trade at JPY 111.30.

Financial stocks were the primary losers in Tokyo, with Mizuho Financial Group off 1.83%, while other major index players Fanuc and SoftBank were off 1.33% and 1.24% respectively.

Fast Retailing, which owns the fast fashion giant Uniqlo, went against the index trend to add 0.34%, while video games heavyweight Nintendo surged 2.36%.

The firm revealed the Nintendo Labo during the day, which is a cardboard kit designed to enhance a user’s experience with the popular Nintendo Switch console.

On the mainland, the Shanghai Composite was ahead 0.91% at 3,475.91, and the smaller, technology-heavy Shenzhen Composite was up 0.13% to 1,924.20.

Fresh data out of China showed the country’s economy grew 6.9% in 2017, above Beijing’s official target for 6.5% growth.

Other data released on Thursday was mixed, with retail sales rising 9.4% in December - short of the 10.1% forecast by a Reuters poll.

South Korea’s Kospi eked out gains of 0.02% at 2,515.81, while the Hang Seng Index in Hong Kong was up 0.43% at 32,121.94.

Technology firms were on the right side of the index in Seoul, with Samsung Electronics up 0.56% after posting losses on Wednesday, while chipmaker SK Hynix was ahead 1.48%.

Retail giant Lotte Shopping was off 1.49%, with the Korean retail sector generally mixed.

The Bank of Korea stood pat on interest rates at 1.5% as expected on Thursday.

Financials were in positive territory in Hong Kong, with HSBC and China Construction Bank leading the pack, while property development plays were in the red.

Oil prices were mixed, with Brent crude last down 0.07% at $69.33 and West Texas Intermediate rising 0.03% to $63.99.

In Australia, the S&P/ASX 200 was down 0.02% at 6,014.60, with gains in the hefty financials subindex offset by losses in the gold and energy sectors.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 fell 0.3% to 8,272.67, led lower by retirement property developer Ryman, which lost 3.5%, while energy and telecoms retailer Trustpower lost 2.2%.

Both of the down under dollars were stronger on the greenback, with the Aussie last ahead 0.27% at AUD 1.2512 and the Kiwi strengthening 0.32% to NZD 1.3706.