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Asia stocks mixed after weak US economy indicators

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BANGKOK
(AP) — Asian stock markets were mixed in holiday-thinned trading Monday
after weak U.S. indicators dulled optimism about prospects for the
world's biggest economy.
Several markets were closed including
Hong Kong, Singapore, Australia, Indonesia, Malaysia and New Zealand.
Oil traders were also on holiday. Wall Street and European stock markets
are closed Monday because Christmas fell on a Sunday this year.
Japan's
Nikkei 225 stock index finished up 1 percent at 8,479.34 after being
closed for a public holiday Friday while South Korea's Kospi fell 0.6
percent to 1,856.70.
China's Shanghai Composite Index shed 0.7
percent to 2,190.11. Markets in India and the Philippines gained while
benchmarks inTaiwan and Thailand fell.
Figures showing that U.S.
consumer spending and personal income rose by a modest 0.1 percent in
November were below market expectations. The headline 3.8 percent
increase in durable goods orders last month masked a decline in a
crucial investment measure, benefiting from big orders for Boeing
aircraft.
The data offset some of the optimism in markets about
the U.S. economy following a run of largely positive indicators. Since
Thursday, investors have taken heart from figures showing that the
number of initial jobless claims in the U.S. unexpectedly fell 4,000
last week to 364,000, the lowest level since April 2008.
While the
U.S. economy has been the dominant driver in markets the past few days,
Europe's debt crisis is likely to remain the key market focus next
year.
The Dow Jones industrial average rose 124.35 points, or 1
percent, to 12,294 on Friday in quiet pre-holiday trade. The Nasdaq
composite index gained 19.19 points, or 0.7 percent, to 2,618.64. The
Standard & Poor's 500 index added 11.33 points, or 0.9 percent, to
1,265.33.
In currencies, the euro was up 0.1 percent at $1.3068. The dollar was down 0.1 percent at 77.96 yen.

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