Asian markets muted amid mixed data

Asian stock markets were muted today after mixed US housing data and a subdued day on Wall Street kept investors on the sidelines

Japan’s Nikkei 225 index rose 0.4% to 10,126.71 as its battered export sector clawed back gains.

Hong Kong’s benchmark struggled for direction. After a higher open, the Hang Seng fell 0.1% to 20,832.82.

South Korea’s Kospi lost 0.2% to 2,022.35. Financial companies helped lead Australia’s S&P/ASX 200 into positive territory with a gain of 0.4% to 4,269.40.

Benchmarks in New Zealand, Malaysia and Taiwan also rose. Mainland China and Singapore fell.

Yesterday in the US, the National Association of Realtors released a mixed report about the state of the housing market.

Sales of previously occupied homes dipped last month, but the sales pace for the winter was the best in five years, NAR said.

Housing has been dragging on the economic recovery. An oversupply of homes has weakened construction and other trades in many parts of the country.

Wall Street reacted with caution. The Dow Jones industrial average closed down 0.4% to 13,124.62. The Standard & Poor’s 500 index closed down 0.2% at 1,402.89. The Nasdaq composite average closed up marginally at 3,075.32.