Resource stocks were a major weak spot in the Asian stock markets on Monday after gold posted its first weekly loss since the end of October, but Japanese exporters extended their rally following the yen's recent losses.
In Tokyo, the Nikkei 225 Index progressed 145.01 points, or 1.5%, to close at 10,167.60.
In Hong Kong, the Hang Seng Index slid 173.19 points, or 0.8%, to end the week’s first session at 22,324.96.
In Tokyo, the market was supported by gains in exporters after a sharp decline for the yen Friday. Isuzu Motors advanced 3.5%, while Sony gained 2.8% and Canon added 3.3%.
Friday's unexpectedly strong U.S. jobs report provided "a nice groundswell for a rally across [part of] the region, and the dollar/yen action will most definitely augment the chances of a continuation of the rally," said one expert.
But the jobs data also led to some concern about the possibility of the Federal Reserve exiting its stimulus program sooner than expected, said another expert.
Japan Airlines surged 7% as short-term investors were encouraged by a Nikkei report that the government was expected to guarantee about 700 billion yen ($7.8 billion U.S.) in loans and other funds provided by financial institutions to help rebuild its operations.
Bucking the trend in Tokyo, Hitachi closed 3.3% lower with investors reluctant to buy the stock before the price for a new share issue was set. Late Monday, the company set the price at 230 yen, below Monday's close of 238 yen. Last month, Hitachi said it would raise as much as 415.67 billion yen by issuing new shares and convertible bonds to fund spending.
Among the decliners were resources shares, which took a hit around the region as the recent rise in the U.S. dollar combined with a steep decline in gold to dent commodity prices.
In Australia, BHP Billiton fell 1.9% and Rio Tinto closed down 0.4%.
Among gold names, Australia's Newcrest Mining dropped 6% and Lihir Gold fell 4.8%, Sumitomo Metal Mining declined by 2.3% while Hong Kong-listed shares of Zijin Mining fell 5.1%.
Elsewhere;
The Shanghai 300 Composite Index added 25.34 points, or 0.7%, to 3,668.93
Taiwan’s Taiex index picked up 124.73 points, or 1.6%, to 7,775.64
Singapore’s Straits Times index 5.97 points, or 0.2%, to 2,796.98
Korea’s Kospi index tacked on 7.89 points, or 0.5%, to 1,632.65
New Zealand’s NZX Index finished 7.88 points, or 0.3%, lower to 3,138.58
Australia’s S&P/ASX 200 let go of 25.70 points, or 0.6%, to 4,676.50
