Shares in Asia were mixed on Thursday as the Nikkei recouped earlier losses while profit taking in Hong Kong continued ahead of key growth figures from China out Friday.

The benchmark Nikkei 225 index closed with a modest 9-point gain at 10,609 after spending most of the day in negative territory. The broader Topix rose 2 points to 890. The Hang Seng index closed down 17 points at 23,339 in Hong Kong.

Shares in Tokyo were buoyed by comments from Japan's Economic Minister Akira Amari that his remarks about a weak yen not being good for the economy were 'misinterpreted'.

A handful of Japanese exporters picked up in last minute trading, including shares of Fanuc which added 1.5%, Toyota Motor rose 1.3% while Honda Motor advanced 1.7%.

Sharp soared 7.3% after the Nikkei business daily reported it was in talks with Chinese computer manufacturer Lenovo Group to sell its Chinese TV assembly plant.

Technology stocks were mostly sold off with Tokyo Electron down 2%, Olympus eased 0.9% while Advantest lost 0.8%.

Drug makers were sought after with Takeda Pharmaceutical gaining 1.6%. Astellas Pharma beefed up 1.5% while Shionogi rose 2%.

Japanese airline stocks were in focus after the Federal Aviation Administration ordered the grounding and safety review of Boeing's 787 Dreamliner after a string of incidents involving battery failure in the aircraft.

Nippon Airways fell 0.6% while Dreamliner battery maker to Boeing Co 787 planes GS Yuasa tanked 5%. Japan Airlines remained 0.3%.

Shares in Hong Kong logged a third day of losses as profit takers moved in ahead of a string of Chinese economic data.

Data is expected to show China annual economic growth rose to 7.8% in the fourth quarter of 2012, up from 7.4% in the third quarter. Separate figures on house prices, industrial output and retail sales are also due on Friday.




CJ

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