Asian markets round-up: Most bourses gain amid muted trade

Asian markets outside Australia and South Korea traded higher amid muted trade on 12 June.

The Japanese Nikkei finished 0.12%, or 24.11 points, higher at 20,407.08.

The Shanghai Composite finished 0.87%, or 44.76 points, higher at 5,166.35.

Hong Kong's Hang Seng finished 1.39%, or 372.69 points, higher at 27,280.54.

Australia's S&P/ASX 200 finished 0.21%, or 11.40 points, lower at 5,545.30.

South Korea's Kospi Composite finished 0.22%, or 4.44 points, lower at 2,052.17.

India's S&P BSE Sensex finished 0.21%, or 54.32 points, higher at 26,425.30.

Market movements

The Nikkei logged marginal gains following the previous session's rebound.

Capital Economics said in a note to clients: "The jump in output in Q1 and, over a longer period, rapid growth in the number of people available for work are signs that Abenomics is starting to have an impact. However, the economy likely slowed again this quarter, and the surge in the number of women and older people in the workforce may soon peter out."

The Shanghai Composite finished at a fresh seven-year high amid cautious trade. Market players await a fresh batch of initial public offerings (IPOs) due on 19 June. The upcoming floatations could lock up an estimated CN¥5.5tn of funds, according to CNBC.

Company stocks

In Shanghai, China Everbright Bank and China Citic Bank shot up 4.37% and 3.67% respectively.

In Hong Kong, realty firm China Vanke jumped 4.24%.

In Sydney, department-store operator Myer Holdings lost 5.45%.

Mount Gibson Iron lost 2.38% even after iron ore prices struck fresh four-month highs of $65.40 a tonne.

In Seoul, SK Chemicals lost 2.78% after South Korea's patent watchdog ruled against the firm over a copycat pneumonia vaccine that SK had been developing based on a Pfizer drug.

Builder Samsung C&T lost 1.87% a day after it announced plans to sell nine-million common treasury shares to construction materials firm KCC Corp. The stake sale sets the scene for a battle against US hedge fund Elliott, which has sought an injunction to block a buyout deal of Samsung C&T by Cheil Industries.

In Mumbai, JLR-parent Tata Motors lost 2.03%.