Most Asian stocks got a boost Friday after Europe’s two biggest central banks signaled intent to maintain accommodative policy, with Japanese equities clinching solid weekly gains as the U.S. dollar climbed back above the 100-yen level.
In Japan, the Nikkei 225 ballooned 291.04 points, or 2.1%, to 14,309.97. The benchmark rose 4.6% this week, its third consecutive week of gains.
Hong Kong’s Hang Seng Index spiked 386 points, or 1.9%, to 20,854.67
South Korea’s Kospi underperformed the region as shares of market heavyweight Samsung Electronics Co. tumbled 3.8% after the electronics giant issued a weaker-than-anticipated quarterly forecast.
Several Japanese stocks got help from the weakened yen. Shares of Fast Retailing Co. jumped 5%, Hitachi Ltd. added 4.4%, and Mitsubishi Electric Corp. advanced 3.9%.
Panasonic Corp. gained 2.6% after the Nikkei newspaper reported the firm plans to shut down its European solar-cell plant under a broader restructuring strategy.
In Hong Kong, China Coal Energy Co. spiked 7.2%, Hang Lung Properties Ltd. added 4.1% and Bank of East Asia Ltd. gained 2.4%.
Shares of Macau Legend Development Ltd. posted modest gains on their trading debut in Hong Kong, after the casino operator earlier cut the size of the offering. The stock ended the day’s trading at 2.40 Hong Kong dollars (30.8 U.S. cents), up from its initial public offering price of HK$2.35.
London.’s FTSE 100 index jumped 3.1% and the Stoxx Europe 600 Index rallied 2.3% Thursday after the European Central Bank and the Bank of England indicated they would keep monetary policy easy for the foreseeable future. News from Portugal, indicating the government would avoid a collapse also lifted sentiment.
Mining stocks in Sydney received support amid expectations for easy monetary conditions at global central banks.
Rio Tinto Ltd. added 1%, and BHP Billiton Ltd. rose 1.2%. Shares of Fortescue Metals Group Ltd. tacked on 1.8%, finishing the week 10.5% higher.
In other markets;
The Shanghai Shenzhen CSI 300 added 4.87 points, or 0.2%, to 2,226.85
Taiwan’s Taiex Index perked 108.10 points, or 1.4%, to 8,001.82
Singapore’s Straits Times Index gained 22.61 points, or 0.7%, to 3,169.73
Korea’s Kospi Index shed 5.83 points, or 0.3%, to 1,833.31
In New Zealand, the Exchange 50 Gross Index took on 30.91 points, or 0.7%, to 4,489.86
In Australia, the S&P/ASX 200 grew 49.01 points, or 1%, to 4,841.75
