LONDON -- Asian stocks continued to tread water Thursday on thin end-of-year trading, with the major indices ending mixed.
In China, the Shanghai Composite climbed 75 points, or 1.4%, to 5308. After a similar morning rally in neighboring Hong Kong, the Hang Seng gave away its early gains to end 285 points, or 1%, in the red, at 27,842. The Nikkei finished 88 points, or 0.6%, down, at 15,564, while the South Korean Kospi rose 2 points, or 0.1%, to 1908.
"Toward the end of the year, most of investors are becoming more cautious. The market is lacking focus, with no special stock driving the market to go up," says Castor Pang, a buy-side strategist for Sun Hung Kai in Hong Kong.
Market turnover on the Hang Seng dropped to HK$76.1 billion, or $9.8 billion, vs. over HK$81 billion last week. ...
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