Asia shares posted a strong rally Friday after the Federal Reserve unveiled a fresh round of quantitative easing, with South Korean equities also getting a boost from a credit rating upgrade.
In Japan, the Nikkei 225 Index piled on 164.24 points, or 1.8%, to 9.159.39
The Hang Seng Index in Hong Kong ballooned 582.15 points, or 2.9%, to 20,629.78
The gains came after the Fed said Thursday it would purchase $40 billion U.S. of mortgage-backed securities every month until the labor market improves. Interest-rate settings were kept at record lows, as expected, with the Fed extending the expected time frame for the ultra-loose rates to mid 2015.
Among blue chips making ground in Japan were Sony Corp., rising 3.5% and Canon Inc., climbing 3.6%.
Nintendo Co. put on 2.3% a day after launching its latest Wii videogame device.
Seven & I Holdings Co. bucked the upbeat trend in Tokyo, dropping 2.4% after a Nikkei business daily report said the retailer is set to post its first drop in operating profit in three years.
Exporters bounced in Seoul as LG Display Co. climbed 4.8% and Samsung Electronics Co. firmed by 2.7%.
Financials were also strong across Asia.
Mitsubishi UFJ Financial Group Inc. jumped 3.8% in Tokyo, while investment bank Macquarie Group Ltd. added 2.5% in Sydney.
In Seoul, financial stocks were also bolstered by Standard & Poor’s upgrade of its long-term credit rating by one notch to A+, to reflect a "less negative assessment of the geopolitical risks on the Korean peninsula" after what it called was a smooth change of leadership in North Korea.
Shares of KB Financial Group Inc. jumped 4.3% and Hana Financial Group Inc. spiked 7.1%.
In Hong Kong, China Construction Bank Corp. rose 2.2% and China Life Insurance Co. rallied 4.3%.
Expectations that the Fed’s monetary easing would boost commodity prices buoyed resource stocks.
In the energy sector, Inpex Corp. rallied 5.9%, and Oil Search Ltd. put on 1.6% in Sydney.
Oil futures jumped following the Fed’s stimulus plans, and as geopolitical tensions in the Mideast and Africa sparked supply fears.
Gold prices also surged on the Fed’s stimulus moves, helping Australian gold major Newcrest Mining Ltd. surge 7.3% in Sydney.
Also in Sydney, shares of Fortescue Metals Group Ltd. were halted after a 14% slump on Thursday, amid discussions between the iron-ore miner and its lenders over debt restructuring. The company said it would make an announcement regarding its debt facilities by Tuesday.
In other markets
Shanghai’s CSI 300 index regained 17.08 points, or 0.7%, to 2,315.54
Korea’s Kospi index moved up 56.89 points, or 2.9%, to 2,007.58
The Singapore Straits Times Index gained 40.28 points, or 1.3%, to 3,070.42
Taiwan’s Taiex Index added 159.25 points, or 2.1%, to 7,738.05
New Zealand’s NZX index gained back 6.30 points, or 0.2%, to 3,792.34
Australia’s ASX Index restored 50.54 points, or 1.2%, to 4,389.96
