Mixed Trend In Asian Markets

(RTTNews) - Equity markets in Asia traded on a mixed note ahead of elections in Japan over the weekend and uncertainty over the impact on Bank of Japan's monetary policy stance. However positive sentiment prevailed in the Chinese bourses ahead of the upcoming session of China's top legislature in the first week of November.

China's Shanghai Composite Index rallied 0.64 percent to finish trading at 3,301.42. The day's trading ranged between 3,319.36 and 3,276.13. The Shenzhen Component Index jumped 1.7 percent to close at 10,619.85.

The Japanese benchmark Nikkei 225 slipped 0.60 percent to close at 37,913.92. The day's trading range was between 38,028.14 and 37,713.00.

Konica Minolta topped with overnight gains of 7.3 percent followed by Nidec Corp that added 4.6 percent. SUMCO Corp, Mazda Motor Corp and Kanadevia Corp, all added more than 1 percent.

Sumitomo Dainippon Pharma Co shed 6.3 percent overnight. Kawasaki Kisen Kaisha slipped 4.3 percent. Nippon Yusen and Mitsui O.S.K. Lines erased more than 3 percent whereas Advantest Corp lost 2.9 percent.

The Hang Seng Index of the Hong Kong Stock Exchange added 100.5 points or 0.49 percent from the previous close to finish trading at 20,590.15. The day's trading range was between a high of 20,784.47 and a low of 20,521.95.

Korean Stock Exchange's Kospi Index edged up 0.09 percent or 2.2 points to close trading at 2,583.27. The day's trading range was between 2,577 and 2,611.27.

Australia's S&P/ASX200 closed trading at 8,211.30, gaining 5 points or 0.06 percent. The day's trading range was between 8,206.30 and 8,248.10.

Shares of software business WiseTech Global jumped 12 percent following announcement that CEO has shifted to a different role. Insignia Financial followed with gains of 7.3 percent. Healthcare business Resmed DRC gained 5.9 percent. Gold miner Northern Star Resources and Whitehaven Coal also added close to 5 percent.

Mineral Resources, Reliance Worldwide Corporation and Super Retail Group, all slipped more than 4 percent. Bank of Queensland and Metcash followed with losses of more than 3 percent.

The NZX 50 of the New Zealand Stock Exchange shed 42 points or 0.33 percent to close trading at 12,771.61, versus the previous close of 12,814.07. Trading ranged between 12,742.64 and 12,838.16.

Agribusiness Scales Corporation, SkyCity Entertainment Group and real estate business Kiwi Property Group gained more than 2 percent in Friday's trading. Banking business Heartland Group Holdings and Freightways also added close to 2 percent.

KMD Brands topped losses with a decline of 4.3 percent. Software business Serko also recorded losses in excess of 4 percent. The a2 Milk Company, Synlait Milk and software business Vista Group International, all shed more than 2 percent in Friday's trading.

Wall Street had closed on a mixed note on Thursday, amidst the latest earnings updates, mixed economic data and an easing in treasury yields. While the Fed's Beige book painted a weak economic picture, Thursday's weekly data showed an unexpected decline in initial jobless claims. Nasdaq Composite added 0.76 percent to close trading at 18,415.49 whereas the Dow Jones Industrial Average shed 0.33 percent to finish trading at 42,374.36.