HONG KONG: Asian shares were mixed yesterday, with initial losses recouped in some markets but gains capped by fears over the Iraq crisis that has sent oil prices to nine-month highs.

The uncertainty fuelled by the insurgents who have seized a swathe of Iraq sent traders into safer assets, with the yen ticking higher against the dollar and the euro while gold also rose.

Tokyo tumbled 1.09 per cent to finish at 14,933.29 as the strong yen hit exporters.

However, Sydney edged 0.13 per cent higher, adding 7.25 points to 5,412.3, while Seoul gained 0.14 percent, or 2.74 points, to 1,993.59.

In the meantime, Shanghai added 0.74 per cent, or 15.26 points, to 2,085.98 following more upbeat data on the world's number two economy last week.

Investors are nervously tracking events in Iraq as militants sweep though the country, taking over key cities and moving towards Baghdad as the United States-trained Iraqi army crumbles.

On Wall Street last Friday, the Dow rose 0.25 per cent, the S&P 500 added 0.31 per cent and the Nasdaq put on 0.30 per cent. However, the indexes were all lower over the week.

In other markets:

q Taipei was flat, edging up 6.54 points to 9,202.93. Taiwan Semiconductor Manufacturing Co was 0.81 per cent higher at T$124.0, while Cathay Financial Holding added 0.43 per cent to T$46.55.

q Wellington rose 0.16 per cent to 5,178.80. Chorus gained 0.29 per cent to NZ$1.72 and Fletcher Building was off 0.45 per cent at NZ$8.83.

q Manila slipped 0.39 per cent, or 26.50 points, to 6,758.45.

q Bangkok rose 1.09 per cent to 1,471.85. Coal producer Banpu slipped 0.83 per cent, or 0.25 baht, to 29.75 while Bangkok Bank added 0.26 per cent, or 0.50 baht, to 193.50 baht.

q Jakarta lost 0.84 per cent to close at 4,885.46. Asia Pacific Fibers fell 2.86 per cent to 68 rupiah, while palm oil producer Astra Agro Lestari gained 0.47 per cent to 26,600 rupiah.

q Mumbai shed 0.15 per cent, or 37.69 points, to close at 25,190.48 points. Jaypee Infratech fell 5.65 per cent to 29.25 rupees, while Suzlon Energy fell 4.90 per cent to 31.05 rupees. AFP