LONDON (CNNfn) - Asian markets edged higher Friday, led by telecom stocks such as NTT DoCoMo and Cable & Wireless Optus, on speculation about new share listings and takeover offers.
In Tokyo, the Nikkei 225 rose 3.87 points to 13,427.08, closing little changed from the previous day, as gains for DoCoMo were offset by a decline in shares of consumer electronics giant Sony. The index slid 7.5 percent on the week.
 "I suppose it was good that the Nasdaq's slide halted, but its gains were too weak to persuade most investors," said Yutaka Miura, a manager of equities information at Shinko Securities.
The Nasdaq closed Thursday up 7.34 points, or 0.3 percent, at 2,340.12 after falling 7 percent the previous day.
Hong Kong's benchmark Hang Seng index rose 78.89 points, or 0.5 percent, to end the session at 14,738.2, led by index heavyweight China Mobile and Cathay Pacific Airlines. The market was down 1.6 percent from a week ago.
 In Singapore, the Straits Times index edged up 4.02 points, or 0.2 percent, to 1,902.86, led by banking stocks such as DBS Group Holdings, up 1.1 percent, and the territory's third-largest bank OCBC Bank, which rose 2.4 percent. Chartered Semiconductor Manufacturing fell 2.5 percent after publishing a profit warning Thursday.
The S&P/ASX 200 in Sydney rose 0.3 percent, or 10.2 points, to 3,196. Cable & Wireless Optus rose 2.6 percent on reports that Vodafone Group (VOD), the world's biggest mobile-phone company, had bid A$18 billion ($10 billion) for Optus.
In the currency market, the yen weakened to ¥112.45 against the U.S. dollar from ¥112.08 in late New York trade on Thursday.
Tokyo stocks mixed
Tokyo technology stocks fell as Thursday's half-hearted recovery on Nasdaq failed to inspire investors. Sony, the world's second-largest consumer electronics company, slipped 2.7 percent, the country's biggest PC maker Fujitsu dropped 4.3 percent, chipmaker NEC dipped 0.7 percent, and Hitachi, Japan's third-largest semiconductor manufacturer, dropped 2.7 percent.
Disco jumped 8.8 percent. Shares in the world's largest maker of semiconductor grinding and cutting equipment had shed a quarter of their value this week after the company cut its group net profit forecast for the current business year by 11 percent.
Softbank, which has big investments in some Nasdaq-listed Internet firms, rose 1.3 percent.
In the telecom sector, Nippon Telegraph and Telephone rose 1.5 percent after the world's largest phone company by revenue said it would cut local calling rates in Japan for the first time ever, as competition intensifies in the world's second-most valuable telecom market.
NTT DoCoMo, Japan's dominant mobile-phone company, rose 3.8 percent after a Financial Times report said the company might seek to list its shares in New York next year. The new listing could coincide with the sale of new shares to raise as much as ¥1 trillion ($8.9 billion) to help DoCoMo pursue its ambitious overseas strategy.
Auto stocks were mixed, with Japanese No. 1 Toyota Motor sliding 2.7 percent after Ford Motor (F: Research, Estimates) issued a profit warning. Nissan Motor rose 2.1 percent after the Financial Times said the European Union is expected to approve a £40 million ($58.7 million) aid package to keep production of the Micra small car at its factory in Sunderland, the northeast of England.
 In Hong Kong, China Mobile, the mainland's biggest mobile-phone operator, rose almost 1 percent after losing 5.9 percent in the market's sharp slide on Thursday. Ports-to-telecom conglomerate Hutchison Whampoa added 0.8 percent.
Property and banking stocks gained on expectations interest rates would fall in the new year. Global banking titan HSBC Holdings rose 0.9 percent and the Bank of East Asia added 1.3 percent.
Hysan Development shot up 5.7 percent on speculation it may bid for the Sogo department store building in the prime commercial district of Causeway Bay. New World Development gained 2.8 percent.
"We are still seeing buying of interest-rate-sensitive stocks," said Frederick Tsang, research director at China Everbright Securities. "Investors believe the U.S. economy is slowing more than they thought and the U.S. may now cut interest rates by more than 100 basis points next year, instead of just 75 basis points."
Cathay Pacific Airways jumped 4.8 percent, after lagging the market earlier this week during a dispute between management and pilots, now ended. A drop in oil prices and expected mergers in the Chinese aviation industry should help airline stocks, analysts said. China Southern Airlines rose 3.3 percent and China Eastern Airlines climbed 1.7 percent.
In other markets, Seoul's KOSPI index fell 2.2 percent, while the tech-laden Kosdaq dropped more than 6 percent.
The KLSE composite in Kuala Lumpur slipped 0.6 percent, the BSE Sensex in Mumbai declined 3.4 percent, and Bangkok's SET index dipped 1 percent.
In Manila the PHS composite edged up 0.2 percent and Jakarta's JSX added 0.3 percent.
--from staff and wire reports. 
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