Asian markets traded mostly traded higher Friday, after U.S. indexes ended higher and oil prices hit their highest levels for this year. But a stronger yen continued to weigh on Japan's shares.
The Nikkei 225 fell 211.57 points, or 1.3%, to 16,724.81, extending its fall for a fourth straight session. The index was down 1.3% on the week.
In Hong Kong, the Hang Seng index gained 167.82 points, or 0.8%, to 20,671.63
The U.S. dollar/yen pair was at 111.42 after dipping as low as 110.80 earlier, remaining well below the 113 handle, where it was trading before the U.S. Federal Reserve policy announcement earlier this week. A stronger yen is generally a negative for Japanese stocks as it reduces the value of overseas profits when they're translated into the home currency.
Major Japanese exporters lost ground in Asian trade, with Toyota lower by 2.3%, Nissan down 1.8% and Honda shedding 1%. Japanese electronics giant Toshiba was resiliently up 4.3% despite the company's announcement that its U.S. units were under investigation over accounting-related matters, reported Reuters in early Asian trade.
Helping to drive market gains, oil prices jumped to their highest levels this year as the dollar weakened and talk continued about an April 17 meeting of OPEC kingpin Saudi Arabia and non-OPEC producers, including Russia.
Energy plays were mostly higher. In Australia, Santos was higher by 1.8% and Woodside Petroleum rose 1.7%, but Oil Search dropped 1.1%. In Japan, Inpex climbed 1.3%, and Japan Petroleum Exploration was up 0.51%.
In Australia, major resource producers were trading higher, with Rio Tinto shares up 1%, Fortescue Metals surging 3.8% and BHP Billiton 4.7% higher.
Property stocks were mixed. Among Hong Kong-listed property plays, China Resources Land gained 1% and Shimao Property added 2.4% while China Vanke shed 1.7%.
In South Korea, 333 companies will hold their annual general meetings, with markets likely to pay attention to news out of Kia Motors, LG Chem and SK Group.
CHINA
The Shanghai CSI 300 index added 47.76 points, or 1.5%, to 3,171.96
Chinese mainland energy plays were mixed, with Sinopec Shanghai Petrochemical up 0.2%, China Petroleum higher by 0.2% and PetroChina down 0.1%
In the currency market, the People's Bank of China set the yuan midpoint rate at 6.4628 against the U.S. dollar, 0.5% higher than Thursday's fix, the biggest daily rise to the yuan fix since November 2015.
Investors were digesting news China's February home prices rose by 3.6%, reportedly its highest peak since June 2014.
In other markets;
In Korea, the Kospi index inched ahead 4.13 points, or 0.2%, to 1,992.12
In Taiwan, the Taiex Index moved up 76.17 points, or 0.9%, to 8,810.71
In Singapore, the Straits Times Index tacked on 26.63 points, or 0.9%, to 2,906.80
The NZX 50 in New Zealand surged 50.05 points, or 0.8%, to 6,623.50
In Australia, the ASX 200 moved upward 14.97 points, or 0.3%, to 5,183.12
