China, India Stocks Gain As Asian Markets Decline

November 5, 2009 9:40 a.m. EST

Hong Kong (AHN) - Most Asian stocks were down on Thursday, although Chinese and Indian markets advanced.

The Shanghai Composite Index gained for a fifth straight session, rising 26.5 points, or 0.85 percent, to 3,155.05. The market advance was sustained by positive comments from the government about the country's pro-growth policies and news of the green-lighting of a Disney theme park in Shanghai.

The good news didn't reach into the Hang Seng Index, which fell 136 points, or 0.63 percent, to 21,479.08 in Hong Kong. The gauge had advanced 1.76 percent on Wednesday.

India's Sensex gained 1 percent, or 151 points, after losing 0.8 percent during intraday trading.

The Nikkei 225 Average skidded 127 points, or 1.3 percent, in Tokyo, its lowest level in a month. The decline was touched off by a rise in the yen and a dip in Wall Street stocks. The Kospi in Seoul slipped 1.8 percent, or 28 points, on a strengthening won.

In Sydney, the S&P/ASX 200 fell 0.7 percent, as did the Taiex in Taipei and the NZX 50 in Wellington. New Zealand shares were depressed by news that the jobless rate rose to its highest level since March 2000.

The Straits Times Index in Singapore lost 0.73 percent.