Japanese stocks stage recovery
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Hitachi and some other tech-related stocks are posting gains in Tokyo.
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TOKYO, Japan (CNN) -- Japanese stocks are recovering in Wednesday trade, following a fifth straight day of losses on Wall Street.
The Nikkei 225 average initially dipped into the red, but is 0.42 percent higher at 10,695.822 by the end of the morning session.
That comes a day after it fell 2 percent, its biggest drop in two months.
The broader Topix index is just in the red, down 0.02 percent at 1,048.67.
Most other markets in the region are higher, though gains are muted.
South Korea and New Zealand are both up about half a percent, Taiwan is 0.6 percent higher and Australia is virtually flat, just 0.08 percent ahead.
Singapore is in the red, down almost 0.2 percent.
In Tokyo, the dollar is trading at 108.18 yen.
Japanese tech-related stocks are mixed, with falls for Sony, NEC and Toshiba, but solid gains for Hitachi, Canon and Fujitsu.
Big automakers are all in the red, with Honda and Nissan both down 1.7 percent and Toyota 0.8 percent lower at 3670 yen.
Mobile phone company NTT DoCoMo is 1.8 percent higher to 224,000 yen. Big banks are also mainly higher, though any gains are modest.
Market newcomer Shinsei Bank is up 3.5 percent to 789 yen.
Yamanouchi Pharmaceutical is untraded with a glut of buy orders at 3,690 yen, 2.8 percent above Tuesday's close. Yamanouchi said on Tuesday it would buy rival Fujisawa Pharmaceutical in a stock deal worth $7.76 billion to create Japan's second-largest drug maker.
In Seoul, the Kospi is 0.47 percent higher to 868.66.
SK Telecom is 5.35 percent higher to 226,500 won after top executives convicted of fraud said they would leave the board.
Market heavyweight Samsung Electronics is down almost 1 percent to 526,000 won.
In Australia, the S&P/ASX200 is virtually flat at 3331.7 -- a gain of 0.08 percent.
Resources leader BHP Billiton is off 1 percent to A$12.01, but Qantas Airways is 0.8 percent higher to A$3.80.
Taiwan's Taiex is 0.6 percent higher to 6629.05, buoyed by gains for chip foundries TSMC and UMC.
The moves in Asia follow a fifth straight day of losses on Wall Street Tuesday, with the Dow slipping 0.4 percent and the tech-heavy Nasdaq giving up 0.1 percent after its 1.5 percent drop on Monday. (Full story)
