Asian stocks open with gains after U.S. jump

Japan's markets aren't mapping U.S. gains in morning trade, unlike most Asian markets

HONG KONG, China -- Asian stocks opened higher Thursday morning, with the exception of Japan.

The region's biggest market wasn't seeing any follow through from strong U.S. overnight gains. But Australia, Singapore and South Korea all opened up.

Hong Kong showed particularly strong gains, jumping more than a percentage point at the start. Its markets have the closest U.S. ties in the Asia-Pacific region.

In Tokyo, investors were surprised not to see techs make more mileage out of a 1.6 percent overnight gain on Nasdaq.

Toshiba down as investors fret on prospects

The benchmark Nikkei was down 0.6 percent in morning trade on Thursday at 11,323.55. It was a slight step back after its 1.0 percent rise on Wednesday.

The broader Topix was down 0.4 percent at 1,160.85.

U.S. markets moved ahead solidly overnight, with the Dow Jones industrial average gaining 1.0 percent. Tech-driven Nasdaq rose 1.6 percent.

Toshiba Corp., Japan's largest chipmaker, was down 1.4 percent at 566 yen. There's speculation it will soon revise earnings down.

The market's biggest stock, cell-phone No. 1 NTT DoCoMo, fell 3.8 percent to 1.54 million yen. Investors worry it may have to write down its investments overseas.

Australia shaking off big-stock slump

Australia's benchmark S&PASX/200 was warding off big-stock disappointment to post a 0.2 percent gain, at 3,318.5 in morning trade.

Bionic ear maker Cochlear was up 3.1 percent at a record high of A$46.00.

The Commonwealth Bank of Australia continued its slump, off 2 percent at A$30.18, after disappointing earnings on Wednesday.

The market's biggest stock, News Corp., was down just over 1 percent at A$16.68.

In New Zealand, the benchmark NZSE-40 Capital index was up 0.6 percent at 2,032.38.

Hong Kong's Hang Seng index jumped a strong 1.2 percent at the open to 11,319.98. Its prospects, with a dollar-pegged currency and U.S.-linked interest rates, map those in the United States.

The Hang Seng has been the worst performing index in Asia this year.

South Korea's market edged up, with the benchmark Kospi trading up 0.2 percent at 576.23 in morning trade.

A group led by insurer American International Group is expected to announce it is wrapping up the sale of brokerage Hyundai Securities, as well as several other Hyundai financial units.

Hyundai Securities was off 3.2 percent at 9,730 won as investors pocketed recent gains. But the brewing deal was giving a boost to most financials.

Daewoo Securities rose 1.9 percent to 9,500 won.

The market's biggest stock, Samsung Electronics, was up 0.3 percent at 193,000 won.

Hynix Semiconductor was up 0.6 percent at 1,640 won, as its creditors looked at a debt-equity swap to bail it out of financial trouble.

Taiwan stocks were down slightly, off 0.2 percent at 4,477.07.

Electronics stocks were down, with heavyweight Taiwan Semiconductor Manufacturing Co. giving up 2.4 percent to T$60.50 after a slump in its overseas listing overnight.

Stocks opened with decent gain in Singapore, with the Straits Times index up 0.45 percent at 1,639.78.

SingTel rose 0.5 percent to S$1.90 after the Australian government greenlighted its buyout of Cable & Wireless Optus.

Despite SingTel's majority ownership by the Singaporean government, Australia says it sees no national-security complications that would hold up the deal.

Reuters contributed to this report.