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Asian stock markets are mixed in holiday-thinned trading Monday after weak U.S. indicators dulled optimism about prospects for the world's biggest economy.
Several markets were closed including Hong Kong, Singapore, Australia, Indonesia, Malaysia and New Zealand. Oil traders were also on holiday. Wall Street and European stock markets are closed Monday because Christmas fell on a Sunday this year.
Japan's Nikkei 225 stock index finished up 1% at 8,479.34 after being closed for a public holiday Friday while South Korea's Kospi fell 0.6% to 1,856.70. China's Shanghai Composite Index shed 0.7% to 2,190.11. Markets in India and the Philippines gained while benchmarks inTaiwan and Thailand fell.
King Yuan Electronics Co. (2449 TT): The Taiwanese company that provides testing services to semiconductor manufacturers plans to buy back 30 million common shares, or 2.45 percent of outstanding stock, from the open market, according to company statement to Taiwan stock exchange. The stock fell 0.7 percent to NT$9.61.
Olympus Corp. (7733 JT): The Japanese camera maker reeling from a $1.7 billion accounting fraud amended earnings reports initially filed Dec. 14 to correct mistakes including rounding errors. None of the revisions are significant, Yasutoshi Fujiwara, a spokesman for Tokyo-based Olympus, said by phone. The shares rose 0.8 percent to 1,026 yen.
Pollux Properties Ltd. (POLUX SP): The developer exercised an option to purchase a Singapore property for S$25 million ($19.3 million). The company plans to redevelop the site, according to a Dec. 23 statement. The stock last traded at 50 Singapore cents on Dec. 22.
Ssangyong Engineering & Construction Co. (012650 KS): Korea Asset Management will receive letters of intent to sell a 50.1 percent stake in Ssangyong Engineering by Jan. 27, according to a statement on Kamco’s website. The stock rose 0.6 percent to 7,020 won.
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