Asian stocks rose Thursday, after the U.S. Federal Reserve said the recession is easing and pledged to keep interest rates low.
The Nikkei 225 index in Tokyo recovered 82.19 points, or 0.8%, to 10,517.19. Citizen Holdings Co. climbed 4.7% after posting a smaller-than-estimated loss. Kawasaki Heavy Industries Ltd. rallied 6.9% after the Nikkei newspaper said Vietnam will use Japan’s bullet-train technology. Kinki Sharyo Co., a rival producer, advanced 8.7%.
Denso Corp., Japan’s largest maker of auto parts and a supplier to U.S. carmakers, jumped 3.4% after Mitsubishi UFJ Financial Group Inc. raised the stock to "strong outperform."
In Hong Kong, the Hang Seng index regained 426.06 points, or 2.1%, to 20.861.30.
In Hong Kong, Tencent Holdings Ltd., which operates China’s biggest Internet-chat service, climbed 4.3% on higher earnings, while Hutchison Telecommunications International Ltd. sank 9.1% on plans to sell a stake in an Israeli company.
James Hardie Industries NV, the number-one seller of home siding in the U.S., surged 9.9% in Sydney. Commonwealth Bank of Australia, the nation’s largest lender, gained 4.9% after Macquarie Group Ltd. lifted its recommendation on the stock, citing the potential for an earnings recovery.
Billionaire Li Ka-shing’s Hutchison Whampoa Ltd. and Cheung Kong (Holdings) Ltd. advanced at least 2% in Hong Kong on better-than-estimated earnings.
Hon Hai Precision Industry Co., the world’s number-one contract electronics company and maker of Apple Inc.’s iPhone, advanced 3.8% in Taipei. Hyundai Motor Co., South Korea’s biggest automaker, added 2.8% after saying it expects to boost sales in the U.S.
Westpac Banking Corp. rose 3.9%, while National Australia Bank Ltd. added 4.3%. Origin Energy Ltd., an Australian oil and gas explorer, rose 2.7%. Fortescue Metals Group Ltd., Australia’s number-three iron-ore producer, added 2.3%.
Elsewhere:
Shanghai’s 300 Composite Index gained 43.42 points, or 1.3%, to 3,440.82.
Singapore’s Straits Times Index gained 42.87 points, or 1.7%, to 2,614.18
South Korea’s Kospi index slid 0.71 points, or 0.1%, to 1,564.64
Taiwan’s Taiex tacked on 136.06 points, or 2%, to 7,034.96
New Zealand’s NZX 50 Index strengthened 49.16 points, or 1.6%, to 3,128.85
Australia’s S&P/ASX 200 moved ahead 92.80 points, or 2.1%, to 4,435.90
