Asian stocks rose for a second day after Citigroup Inc. reported better-than-forecast profit, boosting confidence that earnings growth can sustain further gains in shares.
Japan’s Nikkei 225 index gained 98.34 points, or 0.6%, to 15,395.16
The Hang Seng Index in Hong Kong jumped 113.29 points, or 0.5%, to 23,459.96
Mitsubishi UFJ Financial Group, Japan’s largest bank, advanced 1%. ZTE Corp., a video-conferencing systems maker, surged 8.4% in Hong Kong after raising its first-half profit forecast. Sumitomo Metal Mining Co. climbed 2.3% in Tokyo.
Sumitomo Metal added 2.3%.
The BOJ kept its record stimulus unchanged and forecast inflation will pick up to its 2% price target. The central bank stuck with its goal of an annual increase in the monetary base of between 60 trillion yen ($591 billion U.S.) and 70 trillion yen, as forecast by economists surveyed.
At least 10 Japanese companies that do business with Line Corp. jumped in Tokyo trading after people familiar with the matter said the operator of Japan’s most popular mobile messaging service submitted an application for an initial public offering to the Tokyo Stock Exchange.
Adways Inc., the agent for Line’s "Free Coin" application, rose 13%. Ateam Inc., which offers entertainment content for Line, soared 16%. Electronic book distributor Media Do Co. jumped 11%.
Zoomlion Heavy Industry Science and Technology Co. fell 3% in Hong Kong after the construction-machinery maker said it expects first-half profit will plunge by about 60% to 70% from a year earlier.
Australian markets closed unchanged as the nation’s central bank reiterated it expects a period of stable interest rates as the government cuts spending and the economy transitions from mining-investment led growth.
Cape Lambert Resources Ltd. soared 49% to 11 Australian cents after the iron-ore explorer reached a settlement with the Metallurgical Corporation of China over a payment dispute.
In other markets;
The Shanghai CSI 300 index improved 3.22 points, or 0.2%, to 2,174.98
In Korea, the Kospi index took on 18.84 points, or 0.9%, to 2,012.72
Singapore’s Straits Times Index inched up 0.44 points to 3,291.42
In Taiwan, the Taiex index acquired 48.87 points, or 0.5%, to 9,569.17
In New Zealand, the NZX 50 subtracted 12.47 points, or 0.2%, to 5,115.40
Australia’s S&P/ASX 200 dipped 0.10 points to 5,511.30
