Stock markets in Japan pulled off a four-year high on Thursday, in heavy trading volumes, as profit takers cashed in recent gains.

The benchmark Nikkei 225 index closed down 106 points or 0.93% following Wednesday's 3.8% rally, while Hong Kong's Hang Seng index slid 0.34% or 79 points at 23,177 ahead of next week's Lunar New Year holidays.

Stock markets in in Hong Kong will be closed from Monday through to Wednesday next week while mainland China, Taiwan and Vietnam will be closed the whole of next week for Lunar New Year holidays.

In company news telecom firm Telstra advanced 1.3% after it reported a rise in profit and maintained its full year guidance as well as its dividend payment. The group said it is doing well in the race to sign up mobile phone customers.

Camera maker Nikon was the biggest drag in Tokyo, with its shares down as much as 18.9%, as investors took fright at its weaker than expected third quarter earnings. The group also reduced its full year operating profit guidance by almost a half.

Sony was in demand ahead of its quarterly results while Mazda motored ahead after it issued a stronger than expected full-year earnings forecast. Shares in the car company rose 12% in Tokyo.

In Hong Kong personal computer maker Lenovo Group rallied 5% after it was announced that it will be added to the Hang Seng Index next month.

Elsewhere Aluminum Corp of China, also known as Chalco, fell 2.8% on news that it would lose its place on the index.



CJ

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