Asian markets mixed, with slight rise in Tokyo

TOKYO - Asian stock markets were mixed Friday as Shanghai shares defied hopes for a pre-Olympic rally, while optimism about Toyota and a stronger dollar helped Tokyo's benchmark finish slightly higher. The benchmark Nikkei 225 Stock Average gained 0.33 percent to 13,168.41 after shedding 0.98 percent Thursday. China's benchmark Shanghai Composite Index, though, fell 4.5 percent to close at 2,605.16, as investor sold airlines, refiners and other market heavyweights. The Shenzhen Composite Index on China's smaller, second market dropped 5.6 percent. Flag carrier Air China lost the daily maximum 10 percent. PetroChina sank 2.3 percent. Investors and analysts are puzzled why an expected rally linked to the Beijing Olympics--which open Friday--never turned up. Analysts at several Chinese brokerages confirmed that they were under... [read full story]