Asian markets ended on a broadly positive note Friday, notching gains for the week, as shares of Inpex Holdings in Tokyo, Rio Tinto in Sydney and PetroChina Co. stock traded in both Hong Kong and Shanghai got a lift from buoyant crude-oil and metals prices.
The Nikkei 225 stock index rose 1.7 percent to 12,820.5. The blue-chip Hang Seng Index rose 2.7 percent to 23,285.95.
The improved mood invited bargain-hunting in issues with relatively good earnings fundamentals such as trading houses. Mitsubishi Corp. jumped 5.0 percent. Sumitomo Corp. advanced 3.3 percent.
Among consumer electronics companies, Matsushita Electric added 4.5 percent and Mitsubishi Electric climbed 4.3 percent.
Taisho Pharmaceutical Co. shed 1.7 percent on a Nikkei report it will likely see a profit decline next fiscal year due to an expected drop in its prescription drug sales.
In other news -- Japan's core inflation rose a higher-than-expected 1% in February from a year ago, reflecting higher fuel, transportation and food prices.
China's Shanghai Composite emerged as the best performer after losing more than 5% Thursday, but it ended lower for the week. Friday's gains came on speculation that the government might take measures to support a beaten-down stock market by announcing investor-friendly measures over the weekend.
In Shanghai, shares of PetroChina Co. advanced 5.2% and Jiangxi Copper Co. gained 4.3%. In Hong Kong, PetroChina rallied 5.2% while Jiangxi ended up 5.4%.
Elsewhere:
Australia's S&P/ASX 200 index fell 0.4 percent.
India's main Sensex measure rose 2.2 percent.
Philippines Stock Exchange Index rose 1 percent.
South Korea's Kospi ended 1.5% higher at 1,701.83, putting its weekly increase at more than 3%.
Taiwan's Weighted Index inched up 0.2% to 8,623.48 to end the week with a 1% gain.
with files from other wire services
