Hong Kong stocks rose for a third consecutive session on Friday, seemingly shrugging off Chinese data showing a continuous fall in producer prices, while consumer prices ticked up.
In Japan, the Nikkei 225 improved 30.63 points, or 0.2%, to end the week at 17,197.73. The yen traded at ¥119.32, compared with ¥119.65 late Thursday in New York.
In Hong Kong, the Hang Seng index revived 84.42 points, or 0.4%, to 23,919.95,
Fast Retailing Co. the operator of Uniqlo clothing stores, rose 0.8%, after reporting a 64% surge in profit for the September to November quarter.
In Hong Kong, mobile carrier China Unicom (Hong Kong) Ltd. spiked 5.3%, after Morgan Stanley upgraded its rating on the shares to buy from sell, according to a Barron’s report. Bigger rival China Mobile Ltd. advanced 1.6%, and China Telecom Corp. Ltd. rose 1.1%.
However, Hong Kong jewelry brand Chow Tai Fook Jewellery Group Ltd sank 7.8%, after reporting declines in its quarterly same-store sales. Mainland sportswear retailer Li Ning Co. fell 2.2%, as the company warned of another net profit loss in 2014.
CHINA
The Shanghai CS300 index dipped 12.54 points, or 0.4%, to 3,546.72
On Friday, official data from China showed its producer price index dropped 3.3% on year in December, the 34th straight month of declines. Meanwhile, the consumer price index gained 1.5% in December from a year ago, slightly up from a 1.4% increase in November.
However, for 2014, the CPI rose 2%, well below the government’s 3.5% target.
In other markets;
The Kospi in Korea gained 20.05 points, or 1.1%, to 1,924.70
In Taiwan, the Taiex index faded 22.45 points, or 0.2%, to 9,215.58
In Singapore, the Straits Times Index erased 6.67 points, or 0.2%, to 3,338.44
New Zealand’s NZX 50 index added 10.79 points, or 0.2%, to 5,584.84
Australia’s S&P/ASX 200 gained 84.12 points, or 1.6%, to 5,465.57
