Asian stock markets mixed in early trade

Asian stock markets mixed in early trade

Tokyo: Asian stock markets were mixed in early trade Thursday after the Dow Jones industrials slipped following large gains in recent days.

Australia’s main index was 0.3% lower at 4,889.60, retreating after slight gains in the previous session, while Hong Kong’s Hang Seng droped 1.4% to 20,705.95.

Other markets saw moderate advances, with South Korea’s Kospi up 0.1% to 1,682.42.

Japan’s benchmark Nikkei 225 stock average edged up 0.1% to 10,826.02.

Nintendo continued its strong run, rising 2%. The video game maker books a large portion of its sales in the US, and rose Wednesday after saying it would release a 3-D version of its popular handheld gaming system.

The mixed showing in Asia followed a retreat in New York overnight, where the Dow fell 52.68, or 0.5%, to 10,836.2, a day after closing at its highest level since September 2008. It was the biggest point and%age drop since 25 February.

In currencies, the dollar fell to 91.84 yen versus 92.23 yen a day earlier. The euro rose to $1.3326 from $1.3316.

Benchmark crude for May delivery fell 34 cents to $80.27 a barrel in electronic trading on the New York Mercantile Exchange.