Most Asian stocks rose Monday on hopes the Federal Reserve may delay paring its bond purchases, with mainland Chinese shares jumping on some positive corporate results and reassuring comments on the country’s economic growth.
Japan’s Nikkei 225 eased 24.27 points, or 0.2%, to at 13,636.28
Hong Kong’s Hang Seng Index gained 141.81 points, or 0.7%, to 22,005.32
In Asian stock trading Monday, shares of gold miners Newcrest Mining Ltd. jumped 4.9% and Kingsgate Consolidated Ltd. rallied 6% in Sydney. Korea Zinc Co. rose 5.3% in Seoul, while Zijin Mining Group Co. added 1.6% in Hong Kong and 2.4% in Shanghai.
Among energy producers, Inpex Corp. gained 0.5% in Tokyo, and PetroChina Co. advanced 1.8% in Hong Kong and 1% in Shanghai, while Santos Ltd. rose 1.2% in Sydney.
Australia’s Woodside Petroleum Ltd. declined 1.1% as the stock traded without rights to a dividend.
On the downside, shares of BYD Co. plunged 11.8% in Hong Kong despite a sharp increase in half-year profit, after the Chinese battery and car maker said it expects a weak third-quarter performance. Billionaire Warren Buffett owns an interest in the company.
Japanese real-estate developers gained in Tokyo after the Nikkei business daily reported Friday the local housing market was showing signs of strength due to government stimulus and purchases ahead of an expected consumption-tax hike in April.
Shares of Mitsui Fudosan Co. and Mitsubishi Estate Co. added 1% each among developers.
Resona Holdings Inc. rose 0.8% on news the lender had requested the government’s deposit-insurance agency to dispose of its shares in the bank as a "part of the progress in its repayment of public funds."
However, broader market gains were capped as the U.S. dollar remained under the 99-yen level.
Among major exporters, Suzuki Motor Co. fell 1.9%, and Sharp Corp. fell 1.2%
CHINA
The Shanghai Shenzhen CSI 300 picked up 48.69 points, or 2.1%, to 2,335.62, for its best percentage gain in two weeks to lead the region’s advance.
The gains came after Xinhua news service and Reuters cited a National Bureau of Statistics spokesman as saying the country will achieve its growth target of 7.5% for this year, and were aided by better-than-expected results from some Chinese firms.
Shares of China Construction Bank Corp. rose 0.7% in Hong Kong and 0.9% in Shanghai after the lender over the weekend reported a 13% increase in first-half profit from the year-ago period.
Refining giant China Petroleum & Chemical Corp. added 1.9% in Hong Kong and 1.6% in Shanghai following 24% rise in its half-year profit.
Coal miner China Shenhua Energy Co.’s stock rose 3.7% in Hong Kong and 1.9% in Shanghai, even as its half-year profit fell from the year-ago period.
In other markets;
The Taiex Index in Taiwan added 21.66 points, or 0.3%, to 7,894.97
Korea’s Kospi Index tacked on 17.70 points, or 1%, to 1,887,86
The Singapore Straits Times Index gave back 4.44 points, or 0.1%, to 3,084.41
In New Zealand, the Exchange 50 Gross Index took on 21.46 points, or 0.5%, to 4,545.67
In Australia, the S&P/ASX 200 hiked 12.04 points, or 0.2%, to 5,135.40
