Japanese stocks on Thursday ended at their best level in more than four years, standing out in Asia as other major markets suffered losses amid caution ahead of key central-bank decisions and economic data.
In Japan, the Nikkei 225 Index added another 35.81 points, or 0.3%, to 11,968.08, a closing level it hasn’t seen since September 2008, with exporters broadly advancing. The benchmark had earlier in the day topped the psychologically important 12,000-point level, but pared those gains after the Bank of Japan left its monetary policy unchanged.
In Hong Kong, the Hang Seng index faded 6.40 points to 22,771.44
The drop elsewhere in Asia came as investors turned cautious ahead of a packed schedule of key central bank events and economic data. That included the European Central Bank and Bank of England decisions later Thursday, and the U.S. non-farm payrolls data Friday.
Stock trading in Tokyo saw several exporters rise over the yen’s recent declines, amid optimism over the government’s efforts to spur the economy.
Mazda Motor Co. jumped 4.6%, Nintendo Co. spiked 4.8% and Bridgestone Corp. rallied 4.2%.
Olympus Corp. soared 5.5% after a Nikkei news report that the firm will slash more of its interest-bearing debt load than planned by the end of the next fiscal year in March 2014.
At its policy meeting Thursday, the Bank of Japan left its interest rates and asset purchases on hold, but many economists expect action at next month’s meeting.
Steel makers slipped, however, after a Nikkei report they will pay 33% more for iron ore in the April-June quarter than in the first three months of the year. JFE Holdings Inc. dropped 1%, while Kobe Steel Ltd. fell 1.6%.
Among Australian iron-ore miners — key suppliers to the Chinese market — Fortescue Metals Group Ltd. dropped 2.2%, while BHP Billiton Ltd. ended unchanged.
In its response to the NDRC’s allegations, BHP said it was committed to transparent prices in the iron ore market, according to a Reuters report.
CHINA
The Shanghai CSI 300 Composite 300 index fell 30.72 points, or 1.2%, to 2,619.48
Stocks in Hong Kong and Shanghai pulled back after two days of advances, with banks leading the way down.
In Shanghai, China Merchants Bank Co. dropped 2.5% and Agricultural Bank of China Ltd. shed 2.4%; the stocks lost 0.9% and 1.3% in Hong Kong.
In other markets
In Korea, the Kospi Index slid 16.34 points, or 0.8%, to 2,004.40
In Taiwan, the Taiex Index prospered 10.21 points, or 0.1%, to 7,960.51
The Singapore Straits Times Index added 6.73 points, or 0.2%, to 3,298.54
In New Zealand, the NZX 50 index surged 35.51 points, or 0.8%, to 4,333.48
In Australia, the S&P/ASX doffed 7.59 points, or 0.2%, to 5,109.20
