HONG KONG, Dec 17: Asian markets were mixed on Monday, with Japanese shares soaring and the yen tumbling after a landslide election win for the conservative opposition.

The Japanese currency hit a year-and-a-half low against the dollar and multi-month lows versus the euro, a boon for exporters, as investors bet on more central bank easing by the country’s incoming government.

Tokyo climbed 0.94 per cent or 91.32 points to 9,828.88, Sydney closed down 9.7 points, or 0.21 per cent, at 4,573.4 and Seoul shed 0.60 per cent or 11.97 points to 1,983.07.

Hong Kong shed 0.41 per cent, or 92.37 points, to 22,513.61 but Shanghai ended up 0.45 per cent, or 9.71 points, at 2,160.34 on hopes for pro-growth domestic policies from Beijing to boost the economy after a key meeting at the weekend. In Japan, the Liberal Democratic Party (LDP) was expected to oust the ruling Democratic Party of Japan (DPJ), and its leader Shinzo Abe has vowed to press for a more aggressive economic policy to kickstart the economy.

“The election results were very much in line with market expectations.

A relief rally is in order, helped by the stronger dollar,” SMBC Nikko Securities general manager of equities Hiroichi Nishi told Dow Jones Newswires.

“Next, investors will be eager to see the kinds of concrete policy measures that the new government proposes.” Tokyo Electric Power (TEPCO), operator of the Fukushima nuclear plant, soared almost 33 per cent, leading a rally in energy firms on expectations the new government will likely shelve any short-term plans to ditch atomic power. In other markets: Taipei fell 0.88 per cent, or 67.49 points, to 7,631.28. Taiwan Semiconductor Manufacturing Co. lost 1.42 per cent to Tw$97.0 while Hon Hai Precision Industry dived 4.7 per cent at Tw$87.2.

Manila fell 1.46 per cent, or 83.26 points, to 5,623.85. SM Investments Corp. slid 3.32 per cent to 816 pesos while BDO Unibank dropped 2.74 per cent to 70.90 pesos.

Wellington fell 0.32 per cent, or 12.69 points, to 3,966.49. Fletcher Building was down 1.45 per cent at NZ$8.14, Contact Energy was off 0.60 per cent at NZ$5.01 and Telecom ended up 0.19 per cent at NZ$2.16.

Jakarta ended up 6.99 points, or 0.16 per cent, at 4,315.86. Carmaker Astra International rose 1.34 per cent to 7,550 rupiah and Bank Permata jumped 2.36 per cent to 1,300 rupiah, Kuala Lumpur shares lost 3.40 points, or 0.21 per cent, to 1,648.58. AirAsia fell 1.9 per cent to 2.62 ringgit while Maxis slipped 0.9 per cent to end at 6.50. Tenaga Nasional edged up 0/6 per cent to closr at 6.82 ringgit.

Singapore closed down 0.31 per cent, or 9.73 points to 3,158.70. Fraser and Neave gained 0.63 per cent to Sg$9.63 and City Developments added 1.55 per cent to Sg$13.12.

Mumbai slid 0.38 per cent or 72.38 points at 19,244.42. India’s mobile phone giant Bharti Airtel fell 3.69 per cent to 300.45 rupees while top software exporter TCS ended down 2.83 per cent to 1205.85.—AFP