HONG KONG, Nov 17, 2009 (AFP) - Asian markets were mostly lower Tuesday on profit-taking after the previous day's gains, despite a positive lead overnight from Wall Street on upbeat data that boosted US recovery hopes.

Hong Kong lost 0.13 percent after hitting a more than 15-month closing high Monday, while Sydney ended 0.54 percent down. Tokyo drifted 0.63 percent lower.

Shanghai ended up 0.24 percent, but gains were capped by cautious investor sentiment following a report that Beijing planned to review its economic policy sooner than expected.

Asia's lacklustre performance came despite a strong lead from Wall Street overnight where the Dow Jones jumped 1.33 percent to a fresh 2009 high.

Market action came after the US government said retail sales jumped 1.4 percent in October, well ahead of expectations, even though a large portion was from the volatile auto sector.

A warning from US Federal Reserve chairman Ben Bernanke that the US economy faced 'important headwinds' of tight credit and weak employment as it looks to sustain growth into 2010 also hit sentiment, traders said.

However Bernanke said he sees the economy maintaining growth - after expanding in the third quarter following four quarters of declines - despite fears of a so-called double-dip recession.

TOKYO: Down 0.63 percent. The Nikkei-225 index fell 61.25 points to 9,729.93.

Investors fretted about the impact of a stronger yen on exports and corporate fund raising activities.

'Investors don't want to chase the market higher while there is such tension,' Naoki Fujiwara, fund manager at Shinkin Asset Management, told Dow Jones Newswires.

Among exporters, TDK shed 2.8 percent to 4,870 yen and Olympus declined 2.7 percent to 2,870 yen.

Canon gained 3.0 percent to 3,470 yen after announcing plans to buy Dutch printer maker Oce for 730 million euros (1.1 billion dollars) in cash. Rival Konica Minolta slid 5.3 percent to 836 yen.

Shippers also performed well, with Mitsui O.S.K. Lines rising 1.5 percent to 538 yen and Kawasaki Kisen climbing 2.1 percent to 295 yen following a recent rise in maritime transportation rates.

HONG KONG: Down 0.13 percent. The Hang Seng Index slipped 29.83 points to 22,914.15.

The index ended at a more than 15-month closing high Monday, led by financial companies on talk of a possible yuan appreciation, as President Barack Obama visited China.

Industrial & Commercial Bank of China fell 0.9 percent to 6.90 Hong Kong dollars after rising 2.4 percent Monday. Bank of China dropped 0.2 percent to 4.93 after a 2.3 percent gain in the previous session.

China Metal Recycling plunged 24.2 percent to 8.57 after the company disclosed its former chief financial officer resigned last week after saying he was refused proper access to the company's financial information.

Meadville surged 42 percent to 3.05 after US-based printed-circuit-board maker TTM Technologies agreed to acquire manufacturing assets from the company for 521 million US dollars.

SYDNEY: Down 0.54 percent. The S&P/ASX 200 dropped 25.8 points to 4,729.4. 'We're seeing a large dose of profit-taking in the financial space following the huge run they've had over the last three months' said IG Markets research analyst Ben Potter.

The major banks were mostly lower with Westpac down 2.33 percent at 24.70 dollars, ANZ off 1.31 percent to 21.89 dollars, and Commonwealth Bank 2.45 percent lower at 52.64 dollars.

National Australia Bank shares were unchanged at 28.50 dollars.

The world's largest miner BHP Billiton rose 1.00 percent to 40.50 dollars while Rio Tinto gained 0.71 percent to 73.40 dollars.

SHANGHAI: Up 0.24 percent. The Shanghai Composite Index, which covers both A and B shares, rose 7.84 points to 3,282.89.

Gains were capped by cautious investor sentiment following a report that Beijing planned to review its economic policy sooner than expected, dealers said, highlighting economic uncertainties faced by China.

Pharmaceutical makers led the gains Tuesday, jumping on expectations of revenue gains during the flu season. Guangzhou Pharmaceutical surged by the 10 percent daily limit to 10.51 yuan.

Stocks listed on the Nasdaq-style ChiNext board ended mixed.

SEOUL: Down 0.41 percent. The KOSPI fell 6.49 points to 1,585.98 points.

Hynix Semiconductor slipped 6.6 percent to 18,400 won on news that its creditors may attempt to sell their collective 28 percent stake through a block deal if a public auction fails.

Last week, the only bidder for Hynix, Hyosung Corp., withdrew.

Major exporters extended losses due to the won's strength. Hyundai Motor dropped two percent to 100,000 won, Kia Motors fell 2.6 percent to 16,800, and Samsung Electronics slipped 0.7 percent to 728,000.

TAIPEI: Down 0.76 percent. The weighted index finished 59.47 points lower at 7,733.21 .

Earlier gains triggered by three newly-signed financial agreements with China were reversed, dealers said.

Mega Financial Holding fell 3.74 percent to 19.35 Taiwan dollars and Chinatrust Holding was down 3.33 percent to 20.35.

Innolux dropped 4.96 percent to 46.00 while Chi Mei rose 6.72 percent to 21.45 .

This was despite news that authorities were investigating whether Chi Mei released misleading information before it was taken over in a share swap deal worth 5.38 billion US dollars.

SINGAPORE: Down 0.68 percent. The blue-chip Straits Times Index fell 18.90 points to 2,764.95.

Banking stocks were mixed. DBS climbed 14 cents to 14.70 dollars, while United Overseas Bank eased 28 cents to 19.66 and Oversea-Chinese Banking Corp dipped five cents to 8.45.

Property developer CapitaLand declined 10 cents to 4.13.

BANGKOK: Flat. The Stock Exchange of Thailand composite index edged down 0.20 points or 0.03 percent to close at 706.55 points.

KUALA LUMPUR: Up 0.13 percent. The Kuala Lumpur Composite Index gained 1.64 points to 1,279.95.

Maxis, Malaysia's top mobile operator, is to launch an IPO after raising 11.2 billion ringgit (3.3 billion dollars), billed as the biggest in Southeast Asian history.

Among major stocks, leading bank Maybank added 1.0 percent to 6.94 ringgit, mobile phone operator Axiata was up 1.60 percent to 3.15 while banking group Affin shed 8.30 percent to 2.42.

JAKARTA: Up 0.21 percent. The Jakarta Composite Index gained 5.11 points to 2,473.78.

Bank Rakyat Indonesia climbed 2.7 percent to 7,700 rupiah, while Bank Central Asia advanced 1.1 percent to 4,775.

Mining company Antam gained 2.1 percent to 2,450 rupiah on bargain buying and cigarette maker Gudang Garam dropped 2.0 percent to 16,900.

MANILA: Up 0.69 percent. The composite index added 20.73 points to 3,032.09.

Among the most actively traded scrips, Metro Pacific Investments rose 7.41 percent to 2.90 pesos while Metropolitan Bank and Trust Co. added 2.30 percent to 44.50 pesos.

Century Peak Metal Holdings fell 6.90 percent to 5.40 pesos and Philex Mining was down 1.75 percent to 14 pesos.

WELLINGTON: Down 1.34 percent. The NZX-50 index fell 42.45 points to 3,131.52.

Infratil dropped three cents to 1.51 dollars after the infrastructure investor reported a half year loss of 31.4 million dollars.

Financial services firm Tower rose two cents to 1.74 dollars, Ryman Healthcare rose a cent to 1.98, and jewellery chain Michael Hill International added one cent to 64 cents.

MUMBAI: Up 0.11 percent. The 30-share Sensex index rose 18.14 points to 17,050.65.