Tokyo, Japan (BBN)-Asian stock markets were mostly higher as worries surrounding the downing of a Russian warplane by Turkey eased.
In Japan, the benchmark Nikkei 225 index closed up 0.5 per cent at 19,944.41, reports BBC.
Shares in car making giant Toyota rose 1.1 per cent despite the firm saying on Wednesday it was recalling another 1.6 million vehicles equipped with faulty air bags.
The Japanese car maker has recalled nearly 15 million vehicles fitted with the bags since 2013.
In China, Hong Kong’s index was flat in afternoon trade, up just 0.05 per cent at 22,504.29, while the Shanghai Composite index was down 0.3 per cent at 3,636.86.
South Korea’s Kospi index closed up 1.06 per cent at 2,030.68.
AUSTRALIAN BANKS
Sydney’s benchmark S&P/ASX 200 was up more than 1 per cent in morning trade, helped by banking shares, but eventually closed 0.3 per cent higher at 5,210.70.
Analysts said that while other markets were trading sideways, money was rotating back into the country’s banks as investors looked for income.
“The big four banks are flying today,” IG Markets’ Chris Weston told the BBC.
Shares in Commonwealth Bank of Australia – the country’s biggest lender – closed up 1.5 per cent.
Westpac finished the trading day up 1.2 per cent, while National Australia Bank and ANZ closed up about 0.4 per cent.
“When there’s sideways trading in many global markets – traders want to be paid to be in a position and so we tend to see moves into the banks for yield,” Weston said.
“There are some risks because of the housing market, which is starting to show some vulnerability, but at the moment, bank shares are the best way to pick up yield.”
The so-called big four lenders make up some 30 per cent of Australia’s stock market and are regarded as highly profitable.
They came through the financial crisis relatively unscathed.
BBN/SK/AD