Most Asian Markets Roll Up On INTC Results

Asian shares opened mixed today, with technology stocks leading the gainers. Asian technology stocks got a boost after Intel (NASDAQ: INTC) posted blowout Q4 results, despite the $1.25 billion legal settlement with Advanced Micro Devices (NYSE: AMD).

While Japan's Nikkei 225 gained 0.3% and South Korea's Kospi Composite moved up 0.5%, Australia's S&P/ASX 200 lost 0.5%. New Zealand's NZX-50 also slipped 0.3%. Gains in Nikkei were marred by weakness in Japanese steelmakers on concerns surrounding a possible contraction in demand following the Chinese central bank's move towards a tighter policy.

Losses in the Australian market were driven by a decline in resources stocks, such as Rio Tinto (NYSE: RTP), which lost 0.8% despite posting strong quarterly production yesterday and BHP Billiton (NYSE: BHP) which slipped 0.9%. Banks in Australia were also down with Commonwealth Bank of Australia (ASX:CBA) losing 0.5% and ANZ Bank sliding 0.6%.