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Japanese stocks mostly weaker
(CNN) -- Japanese stocks are mainly weaker at midday Wednesday, with the Nikkei average trading below 9900 after Tuesday's 1 percent gain. Most tech-related stocks are taking a breather, with Kyocera and Toshiba down about 4 percent. Big computer and chipmaker Fujitsu is 2.5 percent lower after it confirmed its involvement with IBM to design a new computer system for Japanese government agencies. The Nikkei is down 0.4 percent at 9859.09 at the end of the morning session. The broader Topix is down 0.86 percent to 967.92. On Tuesday the Nikkei finished at a 10-month high, at one stage topping the 10,000 mark, after a strong showing on Wall Street on Monday gave a boost to trading. Elsewhere in the region, markets in South Korea, Australia and New Zealand are also weaker. But there are gains for Hong Kong, Singapore and Taiwan. U.S. markets again closed in the black Tuesday, with the Dow Jones industrial average up slightly and the tech-heavy Nasdaq up 1.5 percent to 17246.46. (Full story) In Tokyo, big telcos NTT DoCoMo and KDDI are giving back some of Tuesday's gains. Consumer electronics leader Sony is down half a percent to 3890 yen. Tech bellwethers Tokyo Electron and Advantest are both 5 percent weaker. Banks are also weaker, with Mizuho down 5 percent to 114,000 yen and UFJ off 5.6 percent to 236,000 yen. Internet investor Softbank, which soared earlier this week on optimism about its broadband service, is down 5.6 percent to 3370 yen. Toyota and Honda are higher but Nissan is down 3.4 percent to 1207 yen after hitting 13-year highs earlier in the week. Japanese automakers dominated a quality survey in the United States. (Full story) In Seoul, the Kospi is down 0.04 percent to 708.11, with Samsung Electronics off about 0.13 percent to 398,000 won. SK Telecom is a little higher, up 0.25 percent to 202,500 won. Australia's S&P/ASX200 is also lower, down 0.38 percent to 3024.2, led by falls for National Australia Bank and Telstra. Market heavyweight News Corp is up about 0.7 percent to A$11.57. In Taiwan, the Taiex is up about 0.35 percent to 5386.95. The market's biggest stock, chip foundry TSMC, is down 3.2 percent to T$60.00 after announcing a US. secondary offering raised $822 million. (Full story) Rival chip foundry UMC is down 2 percent to T$27.20. Hong Kong's Hang Seng index is also in the black, up 0.37 percent to 10,029.83. China Mobile is up 1 percent to HK$20.55. There are slight gains for big bank HSBC and conglomerate Hutchison Whampoa. Singapore's Straits Times index is 0.75 percent higher to 1530.34. SingTel is up 1.3 percent to S$1.53 while big bank DBS is almost 1 percent higher to S$10.90. Chartered Semi is 4.7 percent higher to S$1.11 after announcing a deal with Germany's Infineon. (Full story)
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