Most Asian equity markets ended higher Wednesday as solid earnings from Apple sparked a rally in technology stocks, while higher commodity prices boosted energy and gold plays.
In Tokyo, the Nikkei 225 grew 189.37 points, or 1.7%, to 11,090.05
In Hong Kong, the Hang Seng index lopped off 112.45 points, or 0.5%, to 21,510.93.
Hong Kong's Hang Seng Index dropped 0.5%, weighed down by China Mobile shares after the company's weaker-than-expected first-quarter results. The heavyweight stock fell 1.6%.
Technology stocks galloped after Apple's fiscal second-quarter profit surged 90% as the company again reported higher Mac computer and iPhone sales, which also helped boost margins.
Toshiba rose 2.9%, while Murata Manufacturing, which makes WiFi modules, climbed was up 2.7% on optimism surrounding Apple's iPhone. Samsung Electronics added 2.9% and Hynix Semiconductor surged 5.7% in Seoul. In Taipei, Inotera Memories rallied 4.3% and Nanya Technology Corp. jumped 5.9%.
Japanese chip maker Elpida Memory jumped 4%, after it said that it expects to make a in the just-ended business year on the back of a solid recovery in demand for DRAM memory chips. That would be its first net profit in three years.
Traders were also tentatively stepping back into the market as the air-travel gridlock in Europe caused by the Iceland volcano cloud started to ease off.
Shares in Australia's Qantas Airways gained 1%, Cathay Pacific Airways jumped 4.3% in Hong Kong and Singapore Airlines advanced 0.8% in afternoon trade.
Energy stocks were lifted after the expiring May Nymex crude-oil futures contract gained $2 U.S. to $83.45 U.S. a barrel Tuesday, the biggest one-day dollar and percentage gain so far this month. The June contract was up 32 cents U.S. at $84.17 U.S. a barrel on Globex.
The gains helped Japan Petroleum Exploration rise 2.4%, with SK Energy Co. rising 2.1% in Seoul, and Australia's Woodside Petroleum adding 1.2% in afternoon trading.
Hong Kong-listed energy stocks declined but outperformed the broad market. Cnooc declined 0.2% and PetroChina slipped 0.1%.
Gold miners also gained on the back of higher prices for the commodity, with Lihir Gold rising 1% in Sydney and Sumitomo Metal Mining Co. rising 3.3% in Tokyo, while Zijin Mining Group gained 2.1% in Hong Kong and 1% in Shanghai. Spot gold was at $1,144.30 U.S. per troy ounce, rising $3.90 U.S. from late New York trade.
Mining giant BHP Billiton fell 0.2%, capping gains in Sydney, after it said it uncovered possible violations of anticorruption laws by employees after a request for information from the U.S. Securities and Exchange Commission. Sentiment toward the stock was also subdued as its iron ore production fell 4% in the quarter ended March from the preceding three months due to weather-related disruptions.
Shares of Korea Exchange Bank climbed 4.4% after a person familiar with the situation said that the lender is considering a bid for Dallas-based Lone Star Fund's controlling stake in Korea Exchange Bank, currently valued at $4.1 billion U.S. Australia & New Zealand Banking Group shares rose 1.1% in Sydney.
Daewoo Motor Sales was also in the spotlight in Seoul, tumbling 6.2% in Korea as trading resumed in the stock after the exchange had halted trading on Tuesday. The halt was imposed on speculation that the company was on the brink of insolvency after it failed to meet 20 billion won ($18 million U.S.) in matured commercial bills to Daewoo Bus Corp.
The vehicle sales and real estate-development company said it has repaid 20 billion won in matured debt, but "people still have doubts about the company's operation and viability," said one expert.
In foreign-exchange markets, the euro was at $1.3434 U.S. from $1.3445 U.S. in late New York trade Tuesday, and at 125.22 yen from 125.23 yen. The dollar was at 93.20 yen from 93.15 yen.
Elsewhere;
Shanghai’s CSI 300 Index added 63.30 points, or 2%, to 3,236.68
Korea’s Kospi index moved up 29.55 points, or 1.7%, to 1,747.58
Singapore’s Straits Times Index dipped 13.72 points, or 0.5%, to 2,967.65
Taiwan’s Taiex index gained 90.11 points or 1.1% to 7,990.53
New Zealand’s NZX 50 Index tacked on 11.86 points, or 0.4%, to 3,304.97
Australia’s S&P/ASX 200 picked up 28.50 points, or 0.6%, to 4,954.30
