Asia markets rebounded Friday after strong data painted an improving U.S. economic picture, with several resource and financial stocks among the notable gainers.
Japan’s markets were closed for a holiday, and trading volumes were thin in the region, with the Australian market closing early ahead of a four-day break
In Hong Kong, the Hang Seng Index triumphed 250.94 points, or 1.4%, to 18,629.20
The gains in Asia tracked a positive finish for U.S. stocks on signs the domestic recovery was gathering steam, as jobless claims hit a multi-year low and consumer confidence rose.
Among commodity producers, Jiangxi Copper Co. rose 2% and China Coal Energy Co. added 3.6% in Hong Kong; their Shanghai-listed shares rose 1.1% and 2.4%, respectively. In Sydney, giant BHP Billiton Ltd. added 1.4%.
Shares of Yanzhou Coal Mining Co. climbed 6.6% in Hong Kong and 1.4% in Shanghai, after Australia’s Gloucester Coal Ltd. said its top shareholder -- Singapore’s Noble Group Ltd. -- had approved its sale to the Chinese coal company. Gloucester Coal jumped 21.6% in Sydney.
Financial firms also advanced, with Hong Kong-heavyweight HSBC Holdings PLC trading up 1.4%, while Cathay Financial Holding Co. jumped 6.9% in Taipei. Australia & New Zealand Banking Group Ltd. added 1.5% in Sydney.
Seoul-listed Woori Finance Holdings Co. lost 1.2% on news the firm is considering fresh fund-raising to boost its capital adequacy.
Exporters also helped to drive gains in Seoul, with Samsung Electronics Co. rising 1.5% and LG Display Co. gaining 2%.
In other markets;
Shanghai’s CSI 300 index gained 17.82 points, or 0.8%, to 2,359.16
Taiwan’s Taiex Index recovered 144.38 points, or 2.1%, to 7,110.73
Korea’s Kospi Index gathered 19.73 points, or 1.1%, to 1,867.22
Singapore’s Straits Times Index added 11.67 points, or 0.4%, to 2,676.47
New Zealand’s NZX 50 Index tacked on 8.27 points, or 0.3%, to 3,215.50
Australia’s S&P/ASX 200 Index climbed 49.60 points, or 1.2%, to 4,140.40
