HONG KONG, June 10, 2011 (AFP) Asian markets were mixed on Friday after the Dow in New York rose for the first time in six sessions but a rate hike in South Korea and persistent fears over tightening in China kept dealers nervous.
Tokyo gained 0.50 percent, or 47.29 points, to 9,514.44 while Sydney rose 0.27 percent, or 12.5 points, to 4,562.1.
But Hong Kong dipped 0.84 percent, or 189.46 points, to 22,420.37 while Shanghai was flat, edging up 1.80 points, to 2,705.14.
Seoul dropped 1.19 percent, or 24.75 points, to 2,046.67.
The region was given an upbeat lead from New York, where markets were higher after the US trade deficit unexpectedly narrowed in April thanks to a recovery in exports and a dip in imports.
The Dow rose 0.63 percent, its first rise this month, while the broader S&P 500 added 0.74 percent and the Nasdaq climbed 0.35 percent.
The Nikkei posted its fourth straight rise after taking several blows in recent weeks over fears for the local economy.
"The Nikkei has ended in positive territory... despite a series of falls in US stocks because Japan shares are seen as undervalued," said Toshiyuki Kanayama, market analyst at Monex.
Investors in Hong Kong and Shanghai were edgy as they looked to Tuesday's release of key inflation figures from Beijing to see if the government's tightening measures to cool the economy have worked.
Earlier Friday, figures showed China's export growth had eased slightly but was still at a record high, while imports surged, soothing concerns that the economy was headed for a heavy landing.
A recent slew of figures had pointed to the world's number two economy slowing down from its robust growth, fuelling concerns that the global recovery could be jeopardised.
Seoul, which had been more than one percent higher in the early morning, slumped after the central bank said it would hike interest rates 0.25 percentage points as it tries to battle inflation.
On currency markets the euro eased to $1.4482 from $1.4509 late in New York Thursday, and to 115.95 yen from 116.63. The dollar weakened to 80.05 yen from 80.32.
New York's main contract, light sweet crude for July delivery, lost 28 cents to $101.65 a barrel and Brent North Sea crude for July delivery rose 16 cents to $119.73 in the afternoon.
Gold closed at $1,542.70-$1,543.70 an ounce in Hong Kong, down from the previous day's close of $1,536.50-$1,537.50.
In other markets:
-- Taipei tumbled 1.81 percent, or 163.12 points, to 8,837.82.
TSMC fell 2.08 percent to Tw$75.3 while Acer was 0.78 percent lower at Tw$50.7.
-- Manila fell 0.11 percent, or 4.76 points, 4,219.58.
Philippine Long Distance Telephone was up 0.3 percent at 2,300 pesos, SM Investments fell 1.8 percent to 540 pesos and San Miguel gained 0.2 percent to 115.
-- Wellington closed flat, edging up 1.87 points to 3,490.62.
Telecom shed 0.4 percent to NZ$2.315 and Fletcher Building rose 1.1 percent to NZ$8.66.
-- Jakarta lost 18.54 points or 0.49 percent to 3,787.64
-- Singapore closed down 19.22 points, or 0.62 percent, to 3,078.35.
SingTel gained 0.32 percent to Sg$3.12 and CapitaLand lost 1.33 percent to Sg$2.96.
-- Kuala Lumpur ended up 0.34 percent or 5.3 points to close at 1,556.19.
Gaming giant Genting climbed 2.0 percent to 11.32 ringgit while Hong Leong Bank rose 1.4 percent at 13.02, as KL Kepong slid 0.5 percent at 22.00.
-- Bangkok edged up 0.35 percent or 3.52 points to 1,020.37.
Banpu lost 2.00 baht to 720.00, while PTT gained 1.00 baht to 334.00.
-- Mumbai fell 0.63 percent, or 116.36 points, to 18,268.54, its third straight day of losses.
Industrial output rose 6.3 percent in April after growth of 13.1 percent in the same month last year, official data showed Friday, through a newly-structured index.
Property, engineering and metal stocks fell.
India's top property firm DLF fell 1.83 percent or 4.3 rupees to 230.9 while engineering giant Larsen and Toubro fell 1.64 percent or 28.3 rupees to 1,693.7, on concerns of industrial activity slowing in India.
Steel maker Tata Steel fell 1.36 percent or 7.85 rupees to 569.2.
