HONG KONG: Asian markets were mixed yesterday as attention turned to another stand-off in Washington over the US budget that could see parts of the government shut down if a deal is not agreed within days. Some federal agencies will shut down and hundreds of thousands of workers will be sent home.
Earlier losses in Tokyo were reversed as traders were cheered by a report that Japan's government was planning to cut corporation taxes to negate the blow of an expected sales tax increase.
The Nikkei rose 1.22 per cent, or 178.59 points, to 14,799.12 - having sunk more than one per cent at one point in the morning - as the dollar surged against the yen.
Sydney added 0.35 per cent, or 18.6 points, to 5,294.5 and Seoul rose 0.46 per cent, or 9.26 points, to end at 2,007.32.
However, Shanghai fell 1.94 per cent, or 42.71 points, to 2,155.81.
In other markets:
* Taipei fell 1.20 per cent, or 99.22 points, to 8,184.68. Hon Hai fell 1.3 per cent to T$75.8 while smartphone maker HTC was 0.74 per cent lower at T$134.0.
* Wellington was flat, edging up 0.75 points to 4,765.47. Telecom added 0.86 per cent to NZ$2.34 and Contact Energy gained 1.89 per cent to NZ$5.40.
* Manila eased 0.20 per cent, or 12.96 points, to 6,407.46. Alliance Global fell 0.97 per cent to 25.55 pesos and Metropolitan Bank and Trust shed 0.61 per cent to 89.10 pesos but Philippine Long Distance Telephone rose 0.41 per cent to 2,968 pesos.
* Jakarta ended flat, edging down 0.02 per cent, or 0.87 points, at 4,405.89. Lender Bank Negara Indonesia fell 2.87 per cent to 4,225 rupiah, while carmaker Astra International rose 1.59 per cent to 6,400 rupiah.
* Bangkok fell 0.84 per cent, or 12.14 points, to 1,424.76. Coal producer Banpu shed 0.83 per cent to 29.75 baht and PTT Plc lost 0.91 per cent to 327.00 baht.
* Mumbai rose 0.19 per cent, or 37.61 points, to 19,893.85. Bharat Heavy Electricals gained 6.63 per cent to 150.4 rupees while drug firm Sun Pharmaceuticals added 2.62 per cent to 583.50 rupees. AFP