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Asian Markets Update: Tokyo Edges Higher as Taipei, Seoul Soar

Hong Kong markets falter as Pacific Century CyberWorks, China Mobile slide.
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TOKYO -- Most Asian equity markets closed higher Tuesday, as technology shares in South Korea and Taiwan jumped while most Japanese investors remained on the sidelines.

In Tokyo, shares remained under pressure ahead of the release of some big-name earnings. The

Nikkei 225

closed up 50.2, or 0.3%, at 15,148.2, but the

Topix

index, which includes all shares listed on the

Tokyo Stock Exchange

, fell 11.4, or 0.8% to end the day at 1422.8.

NEC

(NIPNY)

rose 10 yen, or 0.4%, to 2,260 ($20.86) and

Sony

(SNE) - Get Report

closed up 100 yen, or 1%, at 10,180. Both tech giants will release first-half figures this week.

Nippon Telegraph & Telephone

(NTT)

fell 9,000 yen, or 0.9%, to 970,000 after the government set the price for the telco's next share issue at 949,000 yen.

The dollar traded at 108.33 yen, down from 108.95 yen Monday.

Surging technology shares buoyed markets elsewhere in the region. South Korea's

TST Recommends

Kospi

index rose 16.7, or 3.2%, to finish at 545.1, and Taiwan's

TWSE

index jumped 237.7, or 4.2%, to 5918.6, as

Taiwan Semiconductor

(TSM) - Get Report

and

United Microelectronics

(UMC) - Get Report

both surged over 6%.

Hong Kong went its own way Tuesday, as the

Hang Seng

index fell 176.4, or 1.2%, to 14,925.9. Internet and telecom company

Pacific Century CyberWorks

(PCW)

tanked 11.5% to HK$5.75 ($0.74) and

China Mobile

(CHL) - Get Report

fell HK$1.50, or 2.9%, to 50.75.