Japan stocks rallied Thursday to their highest settlement in more than seven years after returning from a one-day holiday, as a weaker yen supported many export-related shares.
The Nikkei 225 index leaped 327.04 points, or 1.9%, to 17,979.72, its best closing level since July 2007. Meanwhile, the yen weakened versus the U.S. dollar to ¥120.31, compared with ¥118.69 at Tokyo’s stock close on Tuesday.
In Hong Kong, the Hang Seng index recovered 107.13 points, or 0.4%, to 24,422.15.
The softer yen boosted many major exporters, as electronics giant Panasonic Corporation jumped 4.1%, auto maker Nissan Motor Co., Ltd. gained 2%, and rival Toyota Motor Corp. rose 1.8%.
Media conglomerate Sony Corporation surged 5.1%, after the company announced before the holiday that it had reached a deal with Walt Disney to co-produce a new Spider-Man movie, which will be released in 2017.
Industrial-robot manufacturer Fanuc Corporation also soared 6.2% on news that an U.S. hedge fund run by Daniel Loeb had bought a stake in the company.
Also helping support the sentiment was a more-than-expected rise in Japan’s core machinery orders in December.
However, Sydney stocks retreated, as Australia’s unemployment rate rose sharply in January.
In other markets;
The Shanghai CS300 index gained 8.75 points, or 0.3%, to 3,442.87
The Kospi in Korea settled 4.07 points, or 0.2%, to 1,941.63
In Taiwan, the Taiex index hiked 34.09 points, or 0.4%, to 9,496.31
In Singapore, the Straits Times Index slid 25.40 points, or 0.7%, to 3,419.17
New Zealand’s NZX 50 index slid 39.87 points, or 0.7%, to 5.749.32
The S&P/ASX index decreased 25.51 points, or 0.4%, to 5,743.57
