LONDON (CNNfn) - Asia's biggest markets ended mixed Tuesday, with Tokyo's benchmark index nosing into the black and chip stocks in Taiwan roaring higher, while a key Internet company dragged Hong Kong's leading index lower.
In Tokyo, the Nikkei 225 index closed up 50.23 points, or 0.3 percent, at 15,148.19, in what traders described as a cautious atmosphere after recent volatility across equity markets worldwide.
In Hong Kong, the Hang Seng fell 176.43 points, or 1.2 percent, to close at 14,925.93, with Internet company Pacific Century CyberWorks falling  more than 11 percent after it announced the sale of new shares and bonds.
Singapore's Straits Times index closed up 1.2 points, or 0.1 percent, at 1,915.69, and Australia's S&P/ASX 200 slipped 0.2 percent to 3,260.7.
On other Asian markets, the KOSPI index in Seoul rose 3.2 percent while Taipei's Taiwan Weighted index rose 4.2 percent.
Pacific Rim markets got little direction from Wall Street. The Dow Jones industrial average on Monday closed up 45.13 points, or 0.4 percent, at 10,271.72, while the Nasdaq composite fell 14.44 points, or 0.4 percent, to 3,468.70. The S&P 500 shed 1.15 to close at 1,395.78.
In the currency market, the U.S. dollar lost value against the Japanese yen, dropping to ¥108.11, down ¥0.69 from the end of the previous business day in Tokyo.
NTT probe hits shares
On the Tokyo exchange, Nippon Telegraph and Telephone, Japan's third-largest company by market capitalization, closed down 0.9 percent after financial daily Nihon Keizai Shimbun said Japan's Fair Trade Commission has launched an antitrust probe into regional unit NTT East.
On Monday, Japan's Finance Ministry sold 1 million shares in NTT and the company issued up to 300,000 new shares, with both chunks of stock being sold at ¥949,000 a share. The sale cut the government's stake in NTT to 46.7 percent from 53.1 percent.
Mitsubishi Rayon, the largest acrylic fiber manufacturer, was among the most actively traded issue on the Tokyo Stock Exchange's first section, rising 3.1 percent. Traders said jittery investors sought to park money in what was seen as a defensive stock. Polyester manufacturer Teijin added 3.7 percent and Dowa Mining, another stock seen as a defensive play, firmed 3.3 percent.
In the technology sector, consumer electronics bellwether Sony rose 1 percent, while Fujitsu, Japan's leading computer maker, shed 0.7 percent and chipmaker NEC rose 0.4 percent. All three are expected to report half-year earnings later this week.
Battered mobile-phone subscription firm and Internet investor Hikari Tsushin closed up 5.1 percent, stemming recent losses ahead of Wednesday's annual profit report.
E-mail advertising company Magclick plunged by its daily limit of 14.3 percent after Nihon Keizai Shimbun reported its pretax profit for the July-September quarter was about ¥12 million ($111,000), down 87 percent from the previous quarter, as revenue from advertising fell.
In Hong Kong, the Hang Seng retreated in the wake of an announcement late Monday from Pacific Century CyberWorks that the telecom and Internet firm plans to raise US$1.8 billion in new fund  s. PCCW shares, suspended Monday pending the news, plunged 11.5 percent.
Conglomerate Hutchison Whampoa rose 1 percent as Andala, a Hutchison joint venture with Italian Web service provider Tiscali, on Monday won a license in the auction for permits to offer third-generation mobile-phone services in Italy.
Fellow conglomerate First Pacific tumbled 5.7 percent, and mobile-phone company SmarTone Telecommunications fell 5.8 percent - its second successive drop of more than 5 percent -- on reports that British Telecommunications might seek to sell part of its 20 percent stake in the Hong Kong firm to reduce its debts. Mobile-phone operator China Mobile (Hong Kong) fell 2.9 percent.
Property stocks also fell. Henderson Land fell 3.6 percent while New World Development shed 2.1 percent.
In Taipei, United Microelectronics rose 6.5 percent after the chipmaker posted record profit in the third quarter and raised its 2000 profit forecast by 67 percent. Taiwan Semiconductor jumped 6.5 percent and computer maker Acer added 6.6 percent.
In Sydney, media company News Corp. fell 1.1 percent.
In other markets, the KLSE composite in Malaysia rose 0.4 percent, Bangkok's SET fell 0.2 percent, the PHS composite in Manila rose 1.2 percent, and the JSX in Jakarta nudged up 0.3 percent. 
-- from staff and wire reports
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