Japanese stocks jumped Thursday ahead of a closely-watched press briefing by the new central bank governor, while mainland Chinese shares advanced after a preliminary reading on manufacturing activity showed an improvement.
In Japan, the Nikkei 225 index returned from holiday to add 167.46 points, or 1.3%, to 12,635.69
In Hong Kong, the Hang Seng index lost 30.56 points, or 0.1%, to 22,225.88
The advance came against the backdrop of anticipation as investors looked ahead to the first press conference of new Bank of Japan Gov. Haruhiko Kuroda. A Nikkei newspaper report said the new governor was expected to announce “bold monetary easing, both in terms of quantity and quality” in order to quickly reach the bank’s 2% inflation target.
Exporters posted solid gains amid hopes that the yen might weaken further as the central bank targeted policies to pull the country from the grip of falling prices.
Kyocera Corp. rose 3.1%, Fanuc Corp. rallied 5.1%, and Hitachi Ltd. advanced 2.5%.
Financials also traded broadly higher ahead of the Kuroda news briefing, with Mitsubishi UFJ Financial Group Inc advancing 1.6% and Nomura Holdings Inc. rising 2.3%.
In Hong Kong, shares of Tencent Holdings Ltd. fell 4%, even after it reported a 37% increase in fourth-quarter profit, as the Internet services company said it will step up investment in a mobile chatting platform.
Shares of Samsonite International SA surged 5.6%, extending its recent post-earnings gains.
Australian shares fell as the market digested the surprise news that Prime Minister Julia Gillard had agreed to call a vote later in the day to determine the leadership of the ruling Labor Party and the nation. Gillard was reelected leader of the ruling party, unopposed, after the market closed.
Shares of Commonwealth Bank of Australia dropped 0.7% and National Australia Bank Ltd. fell 0.5%, while mining giant BHP Billiton Ltd. declined 0.4%.
In South Korea, several major financials traded lower a day after a major cyber-attack hit some of the nation’s top banks and media outlets. Shinhan Financial Group Co dropped 1.6%, while Hana Financial Group Inc. declined 2.5%.
CHINA
Meanwhile, a preliminary survey of Chinese manufacturing by HSBC showed the Purchasing Managers’ Index rose to 51.7 in March from February’s final reading of 50.4.
The Shanghai CSI 300 Composite 300 index increased 4.81 points, or 0.2%, to 2,614.99
Automobile and steel firms were among the gainers in Shanghai, with SAIC Motor Corp. climbing 0.7% and Wuhan Iron & Steel Co. rising 1.1%.
In other markets;
In Korea, the Kospi Index shed 8.59 points, or 0.4%, to 1,950.82
In Taiwan, the Taiex Index gained 13.81 points, or 0.2%, to 7,811.84
The Singapore Straits Times Index grew 19.25 points, or 0.6%, to 3,267.65
In New Zealand, the NZX 50 index dropped 6.39 points, or 0.2%, to 4,342.51
In Australia, the S&P/ASX fell 7.94 points, or 0.2%, to 4,959.41
