Japanese stocks snapped a four-week losing streak as the dollar regained some strength against the yen and recent global volatility eased.
In Tokyo, the Nikkei 225 moved ahead 152.68 points, or 1%, to 15,291.64, with the U.S. dollar heading back through the ¥108 level overnight for the first time in two weeks. Japanese exporters gain from a weaker yen as it boosts income from overseas markets. The dollar was changing hands at ¥107.92.
The Nikkei gained more than 5% during the week, leading a rebound in Asian markets.
In Hong Kong, the Hang Seng index dipped 30.98 points, or 0.1%, to 23,302.20, and up 1.2% for the week, as pro-democracy protests appeared calm even as student leaders and the government failed to make a breakthrough in talks Tuesday.
Shares of China Unicom (Hong Kong) were up 1.3% after the company said its January-September net profit rose 26% from a year earlier, helped by cost cuts. China Unicom has benefited from the Chinese government’s push to promote competition in the carrier industry, including having to pay reduced interconnection fees to China Mobile’s network starting this year.
News that a doctor who had been treating Ebola patients in West Africa was diagnosed with the disease in New York on Thursday triggered buying in some Japan shares.
Fujifilm Holdings Corp. whose subsidiary makes the Avigan influenza drug that is in demand for treating Ebola, rose 2.5%. Nippon Avionics Co. Ltd. which makes infrared thermography products that airports use to screen passengers’ temperatures, surged 20% on speculation of wider adoption in case of a greater global spread of the virus.
CHINA
Shanghai’s CSI 300 index faded 5.23 points, or 0.2%, to 2,390.71.
A report on Friday also showed prices of new homes in China declined for the first time in nearly two years in September. The average price of new homes in 70 Chinese cities fell 1.1% from a year earlier, after rising 0.5% in August.
In other markets;
Singapore’s Straits Times Index settled 13.95 points, or 0.4%, to 3,222.55
The Taiex index in Taiwan plummeted 85.06 points, or 1%, to 8,646.01
Korea’s Kospi index moved down 5.96 points, or 0.3%, to 1,925.69
In New Zealand, the NZX 50 picked up 41 points, or 0.8%, to 5,333.83
Australia’s S&P/ASX 200 gained 29.11 points, or 0.5%, to 5,412.25
