Asian markets ended mostly higher Thursday as strong overnight gains on Wall Street and China's first-quarter economic growth boosted regional markets, though Chinese property stocks were hurt by policy-tightening fears.
In Tokyo, the Nikkei 225 tacked on 68.89 points, or 0.6%, to 11,273.79
In Hong Kong, the Hang Seng index advanced 36.39 points, or 0.2%, to 22,157.82.
Other markets in the region besides China were mostly higher, with traders reading a stream of positive economic indicators released over the past few days in both the U.S. and Asia as a sign of strong global recovery.
Shipping stocks rose across the region, while Japanese steelmakers jumped on hopes about an improvement in global trade and Chinese demand for metals and materials.
Mitsui O.S.K. Lines jumped 5.1%, Kawasaki Kisen Kaisha gained 4.1% and Nippon Steel added 1.4% in Tokyo. Korea Line surged 5.5% in Seoul.
But Australian mining shares came under profit-taking pressure after strong recent gains and as Wall Street's gains drove the S&P/ASX 200 past the psychologically important 5,000-point level for the first time since September 2008.
In Sydney, shares of BHP Billiton fell 0.2% and Rio Tinto slipped 0.1%, with both giving up early gains.
OZ Minerals jumped 3.7% after posting first-quarter production data from its Prominent Hill mine.
Financial stocks around the region advanced after J.P. Morgan Chase's result came in above expectations, and Korean banks extended gains after Moody's upgraded the country's sovereign ratings and ratings on 10 local financial institutions the previous day.
The rise came on expectations that the Moody's upgrade will lower borrowing costs for the country's banks and improve net interest margins.
KB Financial jumped 3.1%, Hana Financial Group climbed 2.8% and Woori Finance Holdings added 2.8%.
Among other financials, Sumitomo Mitsui Financial added 1.7% and Mitsubishi UFJ Financial gained 1.6% in Tokyo, National Australia Bank added 1.9% and Macquarie Group gained 2.7% in Sydney and DBS Group Holdings rose 1% in Singapore trading.
Korean auto shares lost ground, however, on concerns the nation's ratings upgrade will accelerate the Korean currency's gains against the U.S. dollar, pressuring their earnings.
Hyundai Motor slipped 0.4% and Kia Motors gave up 2%.
In foreign-exchange markets, the euro fell to 126.15 yen from 127.28 yen late Wednesday in New York, reversing some of its recent gains; it was also buying $1.3522 U.S. versus $1.3657 U.S.
The U.S. dollar moved to 92.96 yen from 93.18 yen.
CHINA
Data released during the day showed China's economy grew at 11.9% from a year earlier in the first quarter, ahead of expectations. But the March consumer-price index rose 2.4% from the year-earlier month, lower than February's 2.7% increase and also below economists' expectations for a 2.6% rise.
Shanghai’s CSI 300 Index dumped 9.13 points, or 0.3%, to 3,394.57
Property plays fell in Shanghai on lingering concerns the sector may be targeted for tightening.
A day earlier, China's State Council raised concerns about soaring home prices and said it will "resolutely curb" excessive property prices, after an index tracking property prices in China jumped 11.7% in March from a year earlier.
On the mainland, shares of China Vanke lost 1.1% and Gemdale gave up 2.1%, while Agile Property Holdings slid 3.8% in Hong Kong. China Cosco Holdings rose 2.7% in Shanghai.
Elsewhere;
Korea’s Kospi index moved up 8.58 points, or 0.5%, to 1,743.91
Singapore’s Straits Times Index lost 2.80 points, or 0.1%, to 3,016.94
Taiwan’s Taiex index grew 74.81 points or 0.9% to 8,171.94
New Zealand’s NZX 50 Index subsided 14.39 points, or 0.4%, to 3,321.12
Australia’s S&P/ASX 200 jumped 7.20 points, or 0.1%, to 5,001.90
