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Tokyo recovers as Asia fades
(CNN) -- Japanese stocks recovered to close higher Tuesday but much of the rest of Asia faded after a down day on Wall Street and Monday's bomb blasts in India. Taiwan was down sharply after hitting a 14-month high on Monday. Singapore also tumbled. In Japan, investors sold Sony, Canon, Nissan and other blue chip exporters on worries over the recently stronger yen. Toyota managed a small gain after being in the red. The Nikkei 225 average finished 0.54 percent higher at 10,332.57, after easing 0.04 percent to 10,276.64 on Monday. At one point during the day it fell to 10,171. The broader Topix index regained the 1000-point level, putting on 0.39 percent to 1001.74. Other markets in the region were mainly lower, with Taiwan off 2.26 percent and Singapore down 1.9 percent. Hong Kong recovered to close just 0.1 percent lower, South Korea was down 0.5 percent and Australia lost about 0.3 percent. But New Zealand, which slipped on Monday, posted a gain of 0.56 percent. In Mumbai, the BSE has recovered much of the 3 percent fall it suffered after Monday's deadly bomb blasts that killed at least 52 people. The Sensex 30 rebounded 3.7 percent higher to 4,152.29 -- a new 29-month closing high. The moves in Asia follow a slightly weaker day Monday on Wall Street, where the Dow slipped a third of a percent and the tech-heavy Nasdaq eased just 0.06 percent. (Full story) In Tokyo, consumer electronics leader Sony was down almost 2 percent at one stage, before finishing half a percent lower at 3810 yen. Canon is 0.4 percent lower to 5600 yen. Automakers were mixed, with market leader Toyota up about 0.3 percent to 3250 yen. Honda lost about 0.6 percent to 4720 yen. Nissan dipped 1 percent lower to1246 yen, reflecting a firmer yen rate of 117.48 to the dollar. The market's biggest stock, mobile phone company NTT DoCoMo, closed 1.3 percent highern at 312,000 yen but Japan Telecom was down 1.4 percent to 356,000 yen. Big banks turned around early fallls to finish mainly higher, with gains of around 3 percent for Mizuho, MTFG and UFJ. SMFG did best with a gain of 3.7 percent to 394,000 yen. Among industrials, Nippon Steel showed a 5 percent gain to 228 yen. In Seoul, the Kospi was off 0.5 percent to 753.00, with falls for Hyundai Motor and leading bank Shinhan. But SK Telecom ended half a percent higher to 191,000 won and Samsung Electronics came back from the red to finish at 445,500 won, close to Friday's record close of 446,000 won. In Australia, the S&P/ASX200 was down 0.29 percent to 3167.2. Beverages group Foster's finished down 1.5 percent to A$4.52 after releasing full year earnings. (Full story) There were falls of 1 percent-plus for leading bank NAB and Qantas Airways. Big telco Telstra, which reports on Thursday, was up 1.2 percent to A$4.77. The market's biggest stock, News Corp, added 1.6 percent to A$12.76. AXA Asia Pacific was down 3.7 percent to A$2.59 after posting first half earnings before one-off items of A$287 million. (Full story) In Taiwan, the Taiex tumbled 2.26 percent to 5558.25, with market heavyweight TSMC down more than 2.3 percent to T$63.00. Its smaller rival, chip foundry UMC, was off 4 percent to T$26.10. In Hong Kong, the Hang Seng index ended 0.1 percent lower to 10,753.93 after closing at a 13-month high on Monday. Conglomerate Hutchison Whampoa and leading bank HSBC ended just in the red, but PCCW was up 3.3 percent to HK$4.65 and China Mobile rose half a percent to HK$20.15. Singapore's Straits Times index slumped for the second straight day, ending 1.86 percent lower to 1600.02. Big bank DBS lost 3.7 percent to S$12.90 and Singapore Airlines is off 3.1 percent.
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