Asian equity markets closed higher Wednesday as strong results from chip giant Intel boosted technology stocks, while Singapore shares jumped despite monetary tightening after the city-state's economic growth for the first quarter trounced estimates.
In Tokyo, the Nikkei 225 regained 43.67 points, or 0.4%, to 11,204.90
In Hong Kong, the Hang Seng index advanced 17.90 points, or 0.1%, to 22,121.43.
The Monetary Authority of Singapore said it will revalue upward its targeted trading band for the Singapore dollar and set an objective for a "modest and gradual appreciation" of the currency -- its main policy lever -- against a basket of currencies.
The central bank's move came in the wake of news that first-quarter GDP grew by 13.1% year to year and by 32.1% from the prior quarter on an adjusted, annualized basis, well above market expectations.
Pacing the advance, DBS Group Holdings jumped 4.9% and United Overseas Bank added 4.3%, while Keppel Land advanced 2.2%.
Asia's technology shares posted strong gains after Intel kicked off an upbeat earnings season for the tech sector, reflecting strong demand for the company's new line of chips and a return of business spending on technology. The blue chip's quarterly profit nearly quadrupled, beating analysts' projections, while revenues and gross margins were also well above expectations.
Intel shares were 4% higher in after-hours trade.
Elpida Memory rose 1% and Tokyo Electron climbed 3.6% in Tokyo, while Samsung Electronics advanced 2.1% and Hynix Semiconductor added 0.7% in Seoul. In Taipei, Taiwan Semiconductor Manufacturing gained 1.4%, with Advanced Semiconductor Engineering rising 0.8%.
A notable decliner, shares of Mitsubishi Tanabe Pharma fell 3.6% after saying Tuesday that a Japanese ministry ordered it to suspend some of its businesses over an alleged falsification of blood-product test data.
Chinese shares in Shanghai and Hong Kong ended higher after flirting with losses earlier during the session, with Hong Kong stocks moving in a narrow range.
Meanwhile, shares of leading Korean automakers declined in Seoul amid persistent worries about the won's recent strength. Hyundai Motor fell 0.4% and Kia Motors dropped 1.3%.
Trading higher, shares of Daewoo Motor Sales jumped 5.5%, after a temporary suspension, on news creditors had placed the company under a debt workout program, which increased the chance for a normalization of its business operations through the restructuring process.
In foreign-exchange trading, the euro was lifted a little by gains in regional stock markets, as well as the tighter policy from Singapore's central bank.
The common currency was at $1.3647 U.S. from $1.3592 U.S. in late New York trading Tuesday, and at 127.58 Japanese yen from 126.63 yen. The U.S. dollar was at 93.48 yen from 93.14 yen.
Elsewhere;
Shanghai’s CSI 300 Index advanced 11.99 points, or 0.4%, to 3,403.71.
Korea’s Kospi index moved up 24.74 points, or 1.5%, to 1,735.33
Singapore’s Straits Times Index surged 48.14 points, or 1.6%, to 3,019.74
Taiwan’s Taiex index recovered 67.40 points or 0.8% to 8,097.13
New Zealand’s NZX 50 Index gained 25.58 points, or 0.8%, to 3,335.51
Australia’s S&P/ASX 200 jumped 43.10 points, or 0.9%, to 4,994.70
