Asian markets ended mostly higher Friday, with Japanese stocks gaining on better-than-expected industrial-output data.
The Nikkei 225 index in Tokyo regained 24.07 points, or 0.2%, to 10,126.03
The Hang Seng Index in Hong Kong jumped 209.13 points, or 1%, to 20,608.70
In Hong Kong, Cathay Pacific Airways was among the major gainers, rising 2.1% on news Thursday that it has finalized plans for an air-cargo joint venture with China's national carrier Air China. The joint venture will give the company access to the Yangtze River Delta, China's booming industrial hub.
That venture will make Cathay effectively the only airline with "significant cargo exposure to the three most important economic regions in China" - the Pearl River Delta, the Yangtze River Delta and Beijing -- said Credit Suisse in a report, adding that it "also helps mitigate the threats from other foreign carriers to capture the transshipment cargo going in and out of China."
Air China shares were suspended Friday.
Construction stocks helped Taiwanese stocks higher. Huang Hsiang Construction rose by the day's limit of 7% and Farglory Land Development gained 2%, after an Economic Daily report said the government would funnel four management funds' bank deposits worth 3.6 trillion Taiwanese dollars ($112.3 billion U.S.) into public construction projects.
Japanese stocks were supported by news of better-than-expected industrial production in January.
Output rose 2.5% after December's 1.9% gain, beating the 1.1% forecast by a Dow Jones Newswires poll of analysts.
Automakers were up with Toyota Motor Corp. rising 1.8% and Mazda Motor Corp. jumping 4%. Suzuki Motor gained 1.1%, despite announcing recalls of 432,366 vehicles in Japan due to air-conditioning defects.
In Seoul, STX group shares were higher on news that unlisted STX Heavy Industries had won a $3.2-billion U.S. order to build a petrochemical plant in Iraq, with production due to start in 2014.
STX Corp. climbed 3.1%, while STX Offshore & Shipbuilding rose 2.6%. STX Offshore owns an 85% stake in STX Heavy Industries.
Hynix Semiconductor fell 3.2% on news its creditors plan to sell an 8% stake in the company in first half of the year.
Positive news flows on corporate earnings paced the Sydney market. Australia & New Zealand Banking Group gained 4% after underlying first quarter profit rose 16%. AGL Energy added 4.1% after reporting higher-than-expected first-half earnings.
In foreign exchange markets, the euro kicked higher against the yen as some players covered their short positions in the pair before the weekend, on the last trading day of February. The euro was at 121.23 yen from 120.76 yen in late New York trade
Elsewhere:
Shanghai’s CSI 300 Index slid 10.46 points, or 0.3%, to 3,281.67
Korea’s Kospi Index tacked on 7.07 points, or 0.5%, to 1,594.58
Singapore’s Straits Times Index moved 1.71 points, or 0.1%, higher to 2,750.86
Taiwan’s Taiex Index gained 9.14 points, or 0.1%, to 7,436.10
New Zealand’s NZX Index gained 4.42 points, or 0.1%, to 3,156.10
Australia’s S&P/ASX 200 restored itself by 43.60 points, or 1%, to 4,637.70
