BANGKOK - slide of the Japan in a recession after the March earthquake and tsunami muted the effects of a rally on Wall Street to keep Asian stock markets check Thursday.
Oil prices hovered above $ 100 a barrel, reversing two days of losses, so that the dollar weakened against the euro and the yen.
Nikkei 225 of the Japan slipped 0.5% at 9,613.18 after the Government announced that the economy had contracted sharply in the first quarter, hampered by disasters 11 March that wrecked factories in the Northeast for the production of critical parts for the manufacturers of the country.
Real gross domestic product has declined at an annualized rate of 3.7%, in the period from January to March, the second straight quarter that the No. 3 of the world economy has declined.
Tokyo Electric Power Co., which operates the nuclear plant was paralysed by the tsunami, and collapses 7.7%.
"I think the Japan will be mired in recession throughout the year," said analyst based in Hong Kong Francis Lun. "The United States is showing signs of recovery so that markets are building on that.".
Hong Kong Hang Seng rose 1% to 23,241.43, with the shares of property to higher as investor nervousness about possible real estate bubbles left and Government action to pack prices down. Listed on the Hong Kong blue chips China overseas Land & Investment Ltd. increased by 3.6%, and China Resources Land Ltd. was 2.6% higher.
"The Government seeks to beat low prices for the past 2 years 1/2 with limited success", said the Lun. "People are betting that the Government will fail in the control of prices."
S & P/ASX 200 the Australia rose 1.4 percent to 4,757.90, with actions that mining is gaining on the back of the increase in the prices of metals and oil products. A weakening of the dollar helping to support raw products and others which are assessed in dollars because they become more attractive for holders of other currencies.
BHP Billiton, undermining most grand of the world, has been greater than 1.2%. Energy Resources of Australia Ltd. increased 1.6%.
FTSE Strait Times Index of Singapore was 0.9 percent higher at 3,170.56 after the Government raised its economic growth expected in 2011. Trade and the Ministry of industry said it expects that gross domestic product to expand between 5% and 7%, which is 1 percentage point more than the previous forecast of the Government.
Index of the Korea of the South dragged ABN 1.1% at 2,111.02, with tech shares lost ground. Samsung Electronics Co. Ltd. is down 1.1% and Hynix Semiconductor Inc. lost 2.7 per cent.
Index Composite of mainland China Shanghai slipped less than 0.1% to 2,870.52, while landmarks in the Philippines, Taiwan and Thailand were also lower.
Shares in the airline slipped because of the rise in crude prices, which makes it more expensive jet fuel. Listed in Hong Kong China Southern Airlines Co. Ltd. plunged 4 percent. EVA Airways Corp. of Taiwan fell by 2.7%.
On Wall Street, earnings of companies lifted raw energy and a vast market materials prices stock rally Wednesday after three days of decline. Sentiment had also benefited from the release of minutes from more recent meeting by the Federal Reserve who suggested that the improvement of the US economy.
The Dow Jones industrial average added 0.6% to close at 12,560.18. The S & P index rose 0.9% in 1,340.68. The composite Nasdaq earned 1.1 percent to 2,815.
Benchmark crude for June delivery increased increased 30 cents to $100.40 US per barrel in electronic trade on the New York Mercantile Exchange. The contract was increased $3.19, or 3.3%, to $100.10 Wednesday.
Currency, the euro gained in $1.4291 of $1.4226 late Wednesday in New York. The dollar rose from 81.63 81.56 Yen yen.
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