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Asia mixed, Japan climbs
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September 20, 2000: 5:59 a.m. ET
Nasdaq recovery lifts Tokyo, Seoul; share placement hits Hong Kong
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LONDON (CNNfn) - Asian markets were mixed Wednesday, as tech shares inspired Tokyo to chalk up gains, while concerns about a large sale of stock wiped out Hong Kong's earlier advance.
Japan's benchmark Nikkei 225 average closed 2.1 percent higher at 16,458.31, led by gains in high-tech and electronic companies.
Hong Kong's Hang Seng index slipped 0.1 percent to close at 15,665.62 after earlier rising as much as 1.3 percent, and Singapore's Straits Times Index slipped 0.5 percent.
 South Korea's Kospi index surged 6.1 percent to end at 606.08. Key blue chip Samsung Electronics catapulted 10.6 percent following bullish gains on Tuesday for U.S. chipmakers.
In the U.S. Tuesday, the Nasdaq composite index surged 139.08 points, or 3.7 percent, to 3,865.60. Positive analyst comments on semiconductor maker Intel (INTC: Research, Estimates) helped ease investors' fears that tech companies' earnings could fall short of expectations. But profit warnings and weakness among retail stocks sent the Dow Jones industrial average down 19.23 points to 10,789.29.
In the currency market Wednesday, the dollar strengthened slightly to ¥106.65 from ¥106.49 the previous day in New York.
In Tokyo, tech and telecom stocks took the lead in the Nikkei's rally.
Mobile-phone operator NTT DoCoMo, the most valuable company in Japan, gained 3.1 percent.
 Manufacturing firm and consumer electronics bellwether Sony climbed 3.4 percent, Hitachi advanced 2.5 percent and Toshiba rose 2.6 percent, rebounding from its 6.5 percent fall of the past two days.
Furukawa Electric rose 6.8 percent, snapping a six-day losing streak. Furukawa has been a favorite pick of foreign investors on expectations of large profits from its wavelength division multiplexing technology, which increases the carrying capacity of optical fibers.
In Hong Kong, investors said large sales of stock were undermining the market. London-based Cable & Wireless on Wednesday sought to offload 1 billion shares of Internet investment and telecom firm Pacific Century Cyberworks, or 4.9 percent of the company, said BNP Prime Peregrine, one of the firms placing the shares on C&W's behalf. PCCW shares were suspended at HK10.75, while Cable & Wireless was selling the stock for between HK9.68 and HK9.98. The U.K. company has a large PCCW stake as a result of the Hong Kong operator's February purchase of Cable & Wireless HKT from its British parent.
Hong Kong heavyweight property firm Cheung Kong (Holdings) slipped 1.6 percent.
Senate boosts China-linked shares
China-related shares got a lift from the U.S. Senate's approval of permanent normal trade relations (PNTR) between the United States and China. China Unicom, mainland China's second-largest mobile-phone operator, rose 1.2 percent while Shanghai-based China Eastern Airlines surged 6 percent.
In Taipei, the Taiwan Weighted index snapped its losing streak to close 2.2 percent higher at 6,880.09. The heavily weighted electronics sub-index was the most active, with dominant Taiwan Semiconductor Manufacturing up 1.7 percent.
Singapore shares fell on weakness in the banking sector. DBS Group fell 1.5 percent while OCBC Bank fell 2.6 percent.
Australian shares closed 0.6 percent higher as investors went hunting for high-tech bargains, following the lead of Wall Street a day earlier. The benchmark S&P/ASX 200 ended at 3,254.7, boosted by a gain of nearly 1 percent for telecom operator Telstra.
Kuala Lumpur's KLSE Composite index rose 1.2 percent and Manila's PHS Composite index rose 0.7 percent. Bangkok's SET index slipped 1.7 percent and Jakarta's JSX index fell 1.4 percent. 
--from staff and wire reports
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