Japanese shares advanced Thursday as investors bought into banks and property developers at bargain prices, but Honda Motor Co. declined a day after it slashed the profit outlook while a strengthened yen hurt other exporters such as Canon Inc.
Australian shares dropped after an overnight decline on Wall Street and in crude-oil prices. The market also was weighed down by Commonwealth Bank of Australia, which slumped as trading resumed after the bank finalized a A$2 billion ($1.4 billion) capital raising plan and after CBA said its loan impairment charges were expected to be higher than analyst estimates.
In Tokyo, the Nikkei 225 Average ended the morning trading session up 0.9% at 8,687.04 reversing early losses, while the broader Topix index gained 0.3% to 841.10.
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