HONG KONG, Dec 30 (AFP): Asia's stock markets closed mixed today as investors stayed away ahead of the new year holiday while some of the region's indexes brought the curtain down on a punishing year.

Dealers waited in the wings before the next full week of trading, leading to light turnover and causing stocks to swing more rapidly.

By the end of the day Tokyo was up 1.28 per cent, Sydney rose 0.90 per cent and Seoul 0.60 per cent, while Taiwan leapt 3.91 per cent. However, Hong Kong was down 0.70 per cent, Shanghai 0.95 per cent and Singapore 0.56 per cent.

Despite Japan's Nikkei finishing the day up, it brought to a close a dreadful 12 months that saw the index lose more than 40 per cent of its value, its worst percentage point drop ever.

"It was a year beyond our imagination," said Kazuhiro Takahashi, an analyst at Daiwa Securities SMBC. The market repeatedly posted some of its biggest ever rises and falls and in October plunged to a 26-year low.

Tokyo Stock Exchange president Atsushi Saito told the ceremony marking the close of the year's trading: "In the long history of mankind, there have been many harsh economic slumps but they have been overcome.

"We want to make the next year a year in which we will move towards the future in a constructive manner."

Seoul's KOSPI was also up on the day but has also lost more than 40 per cent over the year. And there was more bad news as data showed South Korea's industrial production declined 14.10 per cent year-on-year, almost twice the level forecast by economists.

"This is a shocking number and today's data shows that the economy is deteriorating faster than expected," Bae Sung-Young, an analyst at Hyundai Securities, told Dow Jones Newswires.

Sydney was boosted by commodities stocks as fighting in the Middle East between Israel and Hamas led oil prices back above US$40.

Shanghai was lower, despite an announcement by China Eastern Airlines that a previously agreed government bailout would be more than doubled to over a billion-dollars.

Bangkok finished 0.73 per cent higher in its final session before New Year but is still more than 47 per cent lower than its level at the end of 2007.

Manila was closed for a public holiday.