TOKYO, Dec 25: Most Asian stock markets were closed on Thursday for Christmas and the remainder were mixed in thin trade, with Tokyo shares creeping up cautiously after a festive rally on Wall Street.

Dealers in Tokyo welcomed a Christmas Eve rise on Wall Street on Wednesday, which broke a five-session losing streak despite a new round of grim figures on the US economy.

The Commerce Department had reported personal income contracted 0.2 per cent in November from the previous month while consumption expenditures shrank 0.6 per cent, in a further sign of a consumer slowdown.

On Wall Street on Wednesday the Dow Jones Industrial Average gained 48.99 points (0.58 per cent) to close at 8,468.48 in a shortened Christmas Eve session.

Japan, whose economy has contracted for two straight quarters, was set to release its own set of data on Friday morning -- industrial output, unemployment and inflation for November.

But Takero Inaizumi, head of the equities department of Mizuho Investors Securities, said he doubted the market would focus much on the data as the year winds to a close.

“The only thing that would trigger selling at this point is additional earnings forecast cuts from companies that have already lowered their forecasts recently,” he told Dow Jones Newswires.

In China, oil refiners fell on concerns over further sliding demand, but retail and home appliance stocks outperformed after Beijing said on Wednesday it would take more steps to stimulate domestic consumption, traders said.

“The market seems directionless but the index will gain support in the following sessions as Beijing will launch more strong concrete measures at the start of next year,” Huatai Securities’ Chen Huiqin told Dow Jones Newswires.

Hong Kong, Sydney, Seoul, Singapore, Kuala Lumpur, Manila, Jakarta, Wellington and Mumbai were closed.

TOKYO: Japanese shares closed 0.97 per cent higher.

The Tokyo Stock Exchange’s benchmark Nikkei index rose 82.40 points to finish at the day’s high of 8,599.50.

The Topix index of all the Tokyo Stock Exchange First Section issues gained 9.03 points or 1.09 per cent to 836.02, with turnover of just under one billion shares, the lowest of the year.

Shares in troubled Toyota Motor Corp. rebounded, rising 2.34 per cent to 2,845 yen. Nissan Motor Co. gained 2.70 per cent to 304 yen.

Major electronics maker Toshiba Corp. went up 5.41 per cent to 331 yen and Hitachi Ltd. rose 1.79 per cent to 342 yen.

In shipping shares, Nippon Yusen was up 4.50 per cent at 533 yen and Mitsui O.S.K. Lines was up 5.39 per cent at 547 yen.

SHANGHAI: Chinese shares closed down 0.61 per cent.

The benchmark Shanghai Composite Index closed down 11.38 points at a six-week low of 1,852.42 on thin turnover of 42.2 billion yuan (6.2 billion dollars).

Pacific Securities fell 1.1 per cent to 14.65 yuan after it said 217 million formerly non-tradable shares will become tradable on Tuesday.

Telecom equipment provider ZTE Corp. shed 1.3 per cent to 26.16 yuan after it said 368 million shares will be unlocked on Monday.

China Petroleum Chemical Corp (Sinopec) closed down 1.5 per cent to 7.09.

PetroChina, the biggest index component, was down 0.8 per cent at 10.14 yuan.

Wuxi Little Swan rose 10 per cent daily to 4.72 yuan, and Guangdong Midea Electric Appliances rose 3.0 per cent to 8.73 yuan.

TAIPEI: Taiwan share prices closed down 0.22 per cent.

The weighted index fell 9.64 points to 4,413.45, on turnover of 29.5 billion Taiwan dollars (893 million US).

Taiwan Semiconductor Manufacturing Co fell 0.69 per cent to 43.10 Taiwan dollars and United Microelectronics Corp fell 0.7 per cent to 7.06.

Cathay Financial Holding shed 0.43 per cent to 34.6 while Hua Nan Financial added 0.58 per cent to 17.2.

Farglory Land Development rose 1.4 per cent to 21.90, and food maker Uni-President Enterprises added 1.05 per cent to 28.9.

BANGKOK: Thai shares closed 1.25 per cent higher.

The Stock Exchange of Thailand (SET) composite index rose 5.47 points to close at 444.64 points while the bluechip SET-50 index gained 4.11 points to 312.58.

Dealers said trading was very light as investors were away for Christmas.—AFP