Asia’s major stock markets ended higher Friday, with many export-focused firms gaining, after positive signals out of debt-stricken Europe helped improve sentiment.
Japan’s Nikkei 225 Index eked out a gain of 13.67 points, or 0.2%, to 8,514.47
In Hong Kong, the Hang Seng Index restored some of its dignity after Thursday’s 1,000-plus-point loss, gaining 173.28 points, or 0.9%, to 19,137.20
The performance in Asia followed a rebound for U.S. stocks Thursday, as the Dow Jones Industrial Average in North America rose almost 1%, buoyed by a fall in U.S. jobless claims and the possibility of a new national unity government in Italy, along with a new Greek prime minister.
In many of the major Asian markets, export-focused stocks were among the better performers.
In South Korea, LG Electronics Inc. rallied 6.4%, Kia Motors Corp. rose 3.9%, and Samsung Electronics Co. advanced 5.1%.
Hong Kong-listed Esprit Holdings Ltd. gained 4.7%, with Li & Fung Ltd. rising 2.5%.
Tokyo-listed Sony Corp. rose 2.4%, Pioneer Corp. jumped 5.5%, and Sharp Corp. put on 1.9%.
However, weakness in some Japanese tech names capped gains there, with Elpida Memory Inc. down 2.1%, and NEC Corp. falling 3.1%.
Shares in Olympus Corp. lost 5% as Japan’s Financial Services Agency promised "rigorous investigations" into any signs of criminal activity at the company.
In Australia, department-store operator Myer Holdings Ltd. gained 4.5%, and supermarket chain Woolworths Ltd. added 1.5%.
Among the decliners in Sydney, Fairfax Media Ltd. plunged 7% after reports the Fairfax family’s company, Marinya Media, sold its remaining stake in the firm late Thursday.
In Hong Kong, the resource sector pointed up, with Aluminum Corp. of China Ltd. climbing 3%, Jiangxi Copper Co. adding 1.6%, and China Petroleum & Chemical Corp. -- better known as Sinopec -- rose 3.1% after confirming it is buying a 30% stake in the Brazilian unit of Portuguese oil company Galp Energia SA for $3.5 billion U.S.
Banks also improved in Hong Kong, recouping a portion of the previous session’s sharp losses, with Bank of Communications Co. adding 2.7% and Agricultural Bank of China Ltd. gaining 3.5%
In other markets;
Shanghai’s CSI 300 index fell 4.59 points, or 0.2%, to 2,695
Taiwan’s Taiex Index picked up 58.61 points, or 0.8%, to 7,367.29
Korea’s Kospi Index progressed 50.20 points, or 2.8%, to 1,863.45
Singapore’s Straits Times Index moved up 4.04 points, or 0.1%, to 2,790.94
New Zealand’s NZX 50 Index added 3.14 points, or 0.1%, to 3,322.01
Australia’s S&P/ASX 200 Index gained 52.40 points, or 1.2%, to 4,296.50
