Asian stock markets mixed

BANGKOK -- Asian stock markets were choppy yesterday after lackluster US economic reports raised expectations that the US Federal Reserve would stick to its aggressive stimulus policies.

US unemployment claims rose and first-quarter growth was revised lower Thursday, encouraging those investors who want to see the Fed continue its aggressive bondbuying strategy to support the U.S. economy. The Fed’s $85 billion-a-month purchases are aimed at spurring borrowing and lending and keeping interest rates low.

The efforts have boosted stock markets, where inves-

tors have turned for returns beyond what bonds are paying.

Japan’s Nikkei 225 clawed back 1.9 percent at 13,832.65 after shedding more than 5 percent the previous day. South Korea’s Kospi advanced 0.6 percent to 2,012.05. Benchmarks in Indonesia and Taiwan also rose.

Still, some analysts said it was worrying how investors plowed into stocks despite the negative economic reports.

“It is concerning that markets are reacting to data this way. Bad news should be seen as bad news,” said Evan Lucas of IG Markets in Melbourne. “The concern from these reactions would be that once the Fed does start to wind back stimulus (whenever that might be) the markets themselves could unwind reasons for tapering.”

HongKong’s Hang Seng fell 0.3 percent to 22,424.04. Australia’s S&P/ASX fell marginally to 4,927.90. Benchmarks in Singapore and mainland China also fell.