Asian stocks ended the week on an upbeat note Friday, with Shanghai and Hong Kong pacing regional markets reclaiming losses from Thursday's sharp sell-off, as investors shrugged off the prospect of further economic tightening in China and its impact upon the regional growth story.
In Tokyo, the benchmark Nikkei 225 index rose 80.65 points, or 0.46 percent, to finish at 17,452.62 while in Hong Kong, the blue chip Hang Seng Index ose 266.88 points, or 1.31 percent, to 20,566.59.
While Tokyo investors will be looking for cues from earnings next week -- Honda Motor Co. releases its results Wednesday -- they will also be paying attention to regional markets, said Kazuhiro Takahashi, general manager at Daiwa Securities SMBC.
Gainers in Tokyo Friday included Mitsubishi Heavy Industries Ltd., which rose 1.82 percent to 782 yen (US$6.57) and Asashi Breweries Ltd. added 1.38 percent to 1,914 yen (US$16.08).
Elsewhere:
MANILA: Philippine shares advanced on bargain-hunting in select stocks on expectations of strong first-quarter coorporate earnings. The benchmark 30-company Philippine Stock Exchange Index rose 16.70 points, or 0.5 percent, at 3,254.76, after shedding 1.7 percent Thursday.
SEOUL: South Korean shares recouped most of the previous day's losses, with steelmaker Posco and transportation stocks leading gains. The Korea Composite Stock Price Index, or Kospi, rose 19.42 points, or 1.3 percent, to 1,533.08.
SINGAPORE: Singaporean shares bounced back from the previous session's sharp fall to close higher, with quarterly earnings next week expected to set the market's near-term direction. The Straits Times Index, which fell 3.2 percent Thursday, closed up 69.39 points or 2.1 percent at 3,360.67.
TAIPEI: Taiwanese shares rose, buoyed by strong recoveries in neighboring Asian markets. The Weighted Price Index of the Taiwan Stock Exchange climbed 54.04 points, or 0.7 percent, to close at 7,942.67 in thin volume.
WELLINGTON: New Zealand's stocks ended a relatively subdued week on a flat note, with solid performances by a few large cap stocks allowing the market to eke out modest gains. The benchmark NZX-50 index edged up 2.3 points, or 0.1 percent, to 4,182.90.
SYDNEY: Australian stocks were buoyed by strong gains from the financial and resources sectors. The benchmark S&P/ASX200 index climbed 42.4 points, or 0.7 percent, to 6,207.5 points, while the All Ordinaries index gained 38.9 points to 6,187.2.
With files from wire services
