Asian stocks climbed Friday, with financial stocks and exporters again leading the charge as eased worries about the euro-zone debt crisis and a higher finish on Wall Street provided a lift.
In Japan, the Nikkei 225 Index leaped another 126.68 points, or 1.5%, to finish the week at 8,766.36
In Hong Kong, the Hang Seng Index zoomed 167.42 points, or 0.8%, to 20,110.40, closing above 20,000 for the first time since early November. Both indices closed the week with four straight daily gains.
HSBC released the initial results from its January Purchasing Managers’ Index survey of manufacturers on Friday, showing activity contracting, though at a slightly slower pace than in December. The China PMI "flash" reading edged up to 48.8, compared to a final print of 48.7 in December
The positive tone for Asian stocks was helped in part by a higher finish on Wall Street Thursday, boosted by a jobless claims and better-than-expected bank earnings reports.
Likewise, successful French and Spanish bond auctions spurred a European markets rally, along with expectations that a deal between the Greek government and private-sector creditors may be close at hand.
The well-received European bond auctions pushed the euro higher, lending support to Japanese exporters.
Panasonic Corp. rose 4%, Sharp Corp. gained 3.2% and Casio Computer Co. up 4.3%.
Toyota Motor Corp. put on 4.1% and Honda Motor Co. improved 3.2%.
In Seoul, Samsung Electronics Co. climbed 3.1% and LG Electronics Inc. added 1.8%.
Above-forecast earnings and increased capital-spending plans from Intel Corp. helped technology plays. In Tokyo, Kyocera Corp. gained 2.7%, and TDK Corp. added 3.3%.
Several financial firms climbed, tracking solid gains for European lenders on Thursday. Hang Seng Index heavyweight HSBC Holdings PLC added 3.7% in Hong Kong.
Mitsubishi UFJ Financial Group Inc. advanced 5.1% and Nomura Holdings Inc. surged 5.2% in Tokyo, Macquarie Group Ltd. rose 3.2% in Sydney and KB Financial Group Inc. added 4.6% in Seoul.
Some Australian materials stocks extended recent strength: Fortescue Metals Group Ltd. rose 2.6% and Alumina Ltd. put on 3.6%.
In other markets;
Markets in Taiwan had the day off
In Shanghai, the CSI 300 Index gained 35.74 points, or 1.5%, to 2,504.09
Korea’s Kospi Index added 34.92 points, or 1.8%, to 1,949.89
Singapore’s Straits Times Index moved forward 38.18 points, or 1.4%, to 2,849.38
New Zealand’s NZX 50 Index progressed 11.72 points, or 0.4%, to 3,276.46
Australia’s S&P/ASX 200 Index moved higher by 24.86 points, or 0.6%, to 4,239.63
