(From THE WALL STREET JOURNAL) 
   A Wall Street Journal Roundup 

A series of healthy IPOs supported Asian stock markets Thursday. But many investors appeared to pause for breath after recent gains, and Asian stocks had a weak opening in Friday trading. European markets, meanwhile, extended their slide on Thursday.

Asia has emerged as the world's top spot for companies tapping markets for money this year, as the region's economies have zoomed ahead of other parts of the world still trying to inch out of a recession.

"If you have the right fundamentals and the right pricing, investors will support you," said Teresa Chow, senior portfolio manager at RBC Investment Management.

In early trading on Friday, Japan's Nikkei Stock Average of 225 companies was down 119.88 points or 1.3% at midday, to 9429.59, hit by losses in tech shares after Dell's earnings dragged down U.S. tech companies. Chip-related shares were weaker, with Tokyo Electron off 1.6%.

Among Thursday's biggest initial public offerings:

-- In Malaysia, Maxis, the country's biggest mobile-phone operator by subscribers, rose 8.4%. Dealers and analysts say the $3.3 billion IPO has the potential to attract greater interest from foreign investors for Bursa Malaysia, adding to liquidity on the exchange.

-- In Hong Kong, shares of Longfor Properties performed better than expected, rising 13% in heavy trading. The listing was keenly watched as the company counts Government of Singapore Investment Corp., Temasek Holdings and Ping An Insurance among its investors. Also, medium-size Chinese lender China Minsheng Banking raised US$3.86 billion in its debut, even as private-equity firm Hopu Investment Management decided against buying into the deal, people familiar with the situation said Thursday. Minsheng's stock-market debut will be the world's fifth largest IPO this year, just ahead of Maxis.

-- In Seoul, shares of casino operator Grand Korea Leisure leapt 32%.

Among regional markets, Australia's S&P/ASX 200 gained 0.2%, and Taiwan's Taiex slipped 0.1%, China's Shanghai Composite Index advanced 0.5%.

In TOKYO on Thursday, the Nikkei finished 1.3% lower at 9549.47. Investors remained concerned about a recent spate of capital-raisings in a weak market. Mitsubishi UFJ Financial Group was down 3.7% after the bank Wednesday said it planned to bolster its capital base by issuing one trillion yen ($11.2 billion) in new shares. Mizuho Financial Group fell 6.6% and Sumitomo Mitsui Financial Group declined 4.6%.

In LONDON, the FTSE 100 Index dropped 1.4% to 5267.70. Softening metals prices weighed on mining stocks Thursday. Antofagasta PLC fell 5.4%, Xstrata PLC lost 5.1% and Rio Tinto PLC declined 3.8%.

Markets in the Americas were mixed.

In TORONTO, the S&P/TSX Composite Index fell 0.5% to 11600.30. Declines led advances 913 to 602. Manulife weighed on the market, with its shares falling 6.1% after the company announced its second share offering in less than a year.

In MEXICO CITY, the benchmark IPC index of leading issues fell 0.8% to 30817.67. Cement giant Cemex shares weighed most, closing 3% lower.

(END) Dow Jones Newswires

November 19, 2009 22:34 ET (03:34 GMT)

Copyright (c) 2009 Dow Jones & Company, Inc.