Asian stocks ended mixed on retreating oil prices (MarketWatch) (23-05-2008)

HONG KONG (MarketWatch) -- Asian stocks had a mixed session on Friday; Japanese shares advanced on exporters as the yen pulled back against the U.S. dollar. The Australian market, on the other hand was hurt by declines in metals and crude oil prices, which put pressure on the commodity sector.

Tokyo's Nikkei 225 ended the session in positive territory up by 0.24% at 14,012.20 points while the Topix index slipped into negative losing 0.22% to 1,376.69.

In currencies, the yen was changing hands at 104.10 against the U.S. dollar, compared to 104.4 in late New York, and 102.97 yen late Wednesday.

Sydney's S&P/ASX 200 fell 1.1% to 5,766.00, Seoul's Kospi index was little changed rising less that a point to 1,8835.40. China's Shanghai Composite traded 0.8% lower.

Hong Kong's Hang Seng Index was down 0.5% while the China Enterprises Index, a measure of shares of mainland-incorporated companies traded in Hong Kong, fell 0.9%.

Taiwan's Weighted Price Index fell 0.4%, Malaysia's KLSE Composite added 0.4%, and Thailand's SET climbed 1.2% .

Singapore's benchmark Straits Times Index was up 0.1% after data showed the economy expanded 6.7% in the first quarter on year, slightly below the government estimate of 7.2%. The government upped its inflation forecast for this year to 5% to 6%. The revision was made as Friday data showed consumer prices rose 7.5% in April on year, the fastest pace in 26 years.

  SourceMarketWatch