Asian markets ended mostly higher Thursday, with Japan's benchmark index gaining as bargain hunters snapped up banks and technology stocks after recent declines.
The Nikkei 225 index in Tokyo zoomed higher by 201.53 points, or 2%, to 10,513.67.
In Hong Kong, the Hang Seng index reclaimed 218.52 points, or 1.1% -- or Wednesday’s loss and then some -- to end the session at 21,069.56.
In Japan, banks rebounded after falling sharply recently on concern they may have to raise capital after the G-20 nations agreed to tighten capital requirements last week. Leading the bounce Thursday, shares of Mitsubishi UFJ Financial Group rose 4.4%, with Sumitomo Mitsui Financial Group rising 3.6% and Mizuho Financial Group gaining 2%.
The gains in Tokyo were in spite of data showing Japanese core machinery orders fell by a steeper-than-expected 9.3% in July from the previous month.
Shares of Kirin Holdings rose 1.2% after Suntory Holdings confirmed it was in talks to buy soft drink maker Orangina SAS; Suntory itself is in parallel merger talks with Kirin Holdings.
Semiconductor shares advanced around the region after Texas Instruments raised its third-quarter outlook in further evidence of improving demand. Elpida Memory climbed 3.4% and Tokyo Electron added 2.8% in Tokyo, Taiwan Semiconductor Manufacturing Co. rose 2.4% in Taipei and Hynix Semiconductor advanced 2.6% in Seoul.
Taiwanese financial stocks gained after the Economic Daily News quoted an unnamed senior finance official as saying Taiwan and China have resolved most of the issues hindering the signing of a memorandum of understanding on financial sector cooperation. Fubon Financial Holding climbed 5.4% and Cathay Financial Holding added 3.5%.
Genting Singapore fell 5% in Singapore trading recently as trading resumed after Wednesday's news of its S$1.63-billion ($1.15-billion U.S.) rights issue.
In currency trading, the euro was recently buying $1.4556 U.S., from $1.4551 U.S. late in New York, and 134.11 yen, from 133.90 yen, while the U.S. dollar was at 92.10 yen, from 92.08 yen.
The Australian dollar also turned weak after data showed the economy shed 27,100 jobs in August, which was worse than economists had expected. The Australian dollar was recently buying 85.76 U.S. cents.
October Nymex crude oil futures were recently 74 cents higher at $72.05 U.S. a barrel on Globex, after weekly U.S. oil inventory data from the American Petroleum Institute showed a higher-than-expected drop of 7.2 million barrels in oil stocks. Earlier, the Organization of Petroleum Exporting Countries (OPEC) agreed, as expected, to keep oil-production quotas unchanged.
Spot gold was flat at $992.60 U.S. a troy ounce, with much debate on whether the yellow metal can retake -- and hold -- the $1,000 mark
CHINA
Chinese shares again defied the broad trend in Asia to end a seven-session winning run as metals producers and auto makers retraced some of their hefty gains of late. But analysts remained confident likely strong economic data for August due Friday could spur further advances.
Shanghai’s 300 Composite Index subsided 32 points, or 1%, to 3,162.91, with recent gainers leading declines. Zhongjin Gold fell 3.4%, Jiangxi Copper shed 1.6% and Baoshan Iron & Steel gave up 1.5%.
Elsewhere:
Singapore’s Straits Times Index regained 31.54 points, or 1.2%, to 2,682.02
South Korea’s Kospi index put on 36.91 points, or 2.3%, to 1,644.68
Taiwan’s Taiex surged 81.36 points, or 1.1%, to 7,332.08
New Zealand’s NZX 50 Index was up 10.27 points, or 0.3%, to 3,126.68
Australia’s S&P/ASX 200 gained 48.60 points, or 1.1%, to 4,570.80.
