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Market Update

Asian Shares End Mixed

Asian stocks finished a choppy session mixed even as trading in Hong Kong was cancelled due to a storm.

At close, mainland China's Shanghai Composite was down 0.3% while Australia's S&P/ASX All Ordinaries finished flat. On the other side, Tokyo's Nikkei reversed earlier losses to gain 1.3% while Mumbai's Sensex ended up 0.7%.

Trading was choppy for most part of the day, with stocks moving in and out of the positive territory despite a positive lead from Wall Street overnight.

Stocks on the Move

Exporters in Tokyo moved off early lows to log gains for the day as the dollar recovered its strength against the Japanese currency. 

Top gainers included, car maker Mazda Motor (+2.1%), Sharp Corp. (+2.0%) and Toshiba Corp. (+1.7).

Among financials, brokerage houses Daiwa Securities and Nomura Holdings bounced 3% and 3.3% respectively.

In Sydney, banks were modestly higher after Commonwealth Bank reported strong earnings. Shares of Commonwealth, however, dropped 1.1% despite the upbeat results. Among others, ANZ rallied 2.7% while NAB and Westpac added around one percent each.

Among miners, Rio Tinto lost 1.1% while BHP Billiton eased 0.2%. Gold miner Newcrest Mining dropped 1.3%.

Among other major losers in Sydney, Billabong International slumped over 4% after its recent surge prompted an inquiry from the securities exchange.

Goodman Fielder dropped nearly 5% despite swinging to net profit for the 2013 financial year.

In Mumbai, Tata Steel added 3.6% after posting better-than-expected results. Top Sensex gainer Tata Motors accelerated around 10%, Hindalco Industries gained 7.2%, ONGC rose 5.3% and Gail India enhanced 3.8^.

On the mainland, car manufacturers raced ahead with solid gains. SAIC Motor Corp. added 1.7% after reports said that its subsidiary Huayu Automotive Systems Co. had agreed to buy Visteon Corp.'s (VC) 50% stake in their joint venture for $1.25 billion in cash.

Among other auto-firms, Faw Car Co. Ltd. accelerated 4.2% while Guanzhou Automobile added around 1%.