LONDON (CNNfn) - Asian markets were mixed Friday, with chipmakers and computer-related stocks sliding after a profit warning from high-tech bellwether Intel in the U.S., but gains for "old-economy" utility stocks cushioned the region's indexes.
In Tokyo, the Nikkei 225 slipped 23.85 points, or less than 0.2 percent, to 14,696.51, led by chipmaker NEC and consumer electronics company Sony. The benchmark index closed down less than 1 percent on the week.
"Falls in high-techs are having a smaller impact (on the overall market)  than before because buying has broadened to old-economy issues and defensive stocks," said Yutaka Nakai, executive officer of the investment strategy department at fund manager Daiwa Asset Management.
Hong Kong's Hang Seng index jumped 177.81 points, or 1.2 percent, to 15,189.33, with Internet and telecom company Pacific Century CyberWorks and Hang Seng Bank among the leading gainers. The market shot up more than 5 percent from last Friday's close.
In Singapore, the Straits Times Index was little changed at 1,960.16, up just 1.43 points.
And in Sydney, the S&P/ASX 200 dipped 21.4 points, or 0.6 percent, to end the session at 3,287.6. News Corp., the world's fifth-biggest media company, dropped 3.8 percent. The market ended little changed from a week earlier.
On the currency market, the yen weakened slightly against the U.S. dollar to ¥110.50, from ¥110.58 in late U.S. trade on Thursday.
In the U.S. on Thursday, the tech-laden Nasdaq composite index fell 1.6 percent to 2,752.5 and the Dow Jones industrial average slipped 0.4 percent to 10,617.36.
U.S. warnings rock Tokyo
Profit warnings from chipmaker National Semiconductor (NSM: Research, Estimates) and mobile-phone company Motorola (MOT: Research, Estimates), which had depressed Wall Street, also hit share prices in Tokyo, and were compounded by a warning after the closing bell in New York from the world's No. 1 microprocessor maker Intel (INTC: Research, Estimates).
 Sony fell 1.5 percent, leaving the shares 50 percent below their March peak, and semiconductor testing device maker Tokyo Electron dipped more than 4 percent.
Chip and computer company Fujitsu slipped 1.5 percent, while rival NEC shed 2.3 percent and Toshiba lost 1.6 percent. Electronic parts maker TDK dropped 2.6 percent.
Meanwhile, a drop in domestic long-term interest rates to 18-month lows boosted the appeal of utilities such as Tokyo Gas and Tokyo Electric Power, which pay stable annual dividends
"Large-cap, low-priced issues are under the spotlight now that long-term bond yields are falling. That made Tokyo Gas's annual yield of 1.3 percent and Tokyo Electric's 2.0 percent yield look relatively attractive," said Hiroichi Nishi, general manager of Nikko Securities' products group.
Recent restructuring efforts in many such "old-economy" companies are about to bear fruit, giving investors another reason to buy, Nishi said.
Tokyo Gas was up 1.5 percent, extending a two-day 4.7 percent rally. Tokyo Electric rose 1.8 percent.
Oil refiner Japan Energy jumped 9.7 percent, rebounding from Thursday's slide, and Arabian Oil surged 12.7 percent.
Hong Kong markets plow ahead
In Hong Kong, China's biggest mobile-phone operator China Mobile rose 1.3 percent as telecom stocks shrugged off Motorola's profit warning. Analysts said slower sales of handsets didn't automatically mean a slowdown for network operators' growth.
Pacific Century CyberWorks, which has lagged the market in recent weeks, jumped 8.3 percent, and ports-to-telecommunication conglomerate Hutchison Whampoa added 1.5 percent.
Banking stocks stood firm amid gathering hopes that the U.S. Federal Reserve will ease interest rates in the new year. London-based bank HSBC Holdings rose 0.4 percent, Hang Seng Bank climbed 1.8 percent and the Bank of East Asia advanced 0.5 percent.
Interest-rate-sensitive property stocks also gained, Sun Hung Kai Properties climbing more than 1 percent.
In Singapore, NatSteel Broadway, a maker of plastic parts for the electronics industry, spiked 15 percent on speculation that parent company Natsteel might have found a buyer for it. Natsteel rose 3.4 percent.
Venture Manufacturing, the city state's biggest electronics maker, fell 3 percent.
Among other Asian markets, Seoul's KOSPI index rose 2.1 percent, the Taiwan Weighted index in Taipei climbed 0.8 percent, Manila's PHS composite and the BSE Sensex in Mumbai added 0.7 percent each.
Bangkok's SET gained 0.4 percent and Jakarta's JSX slipped 0.9 percent, while the KLSE composite in Kuala Lumpur fell 0.4 percent.
--from staff and wire reports 
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