Asian shares ended mostly higher Thursday as investors concluded that tensions on the Korean peninsula and other matters that have weighed on the region’s markets have been priced in already.
In Japan, the Nikkei 225 Index grew 49.65 points, or 0.5%, to 10,079.80.
Hong Kong’s Hang Seng Index added 30.82 points, or 0.1%, to 23,054.70.
The mood was also helped by upbeat expectations for a solid start to the U.S. holiday-shopping season, which unofficially kicks off on Friday.
Export-related shares were higher in Tokyo, helped by a brighter U.S. spending outlook for the holiday season and the Japanese yen’s softening against the dollar.
Regional sentiment got a lift from Wednesday’s solid rise on Wall Street as well as from improved U.S. November consumer confidence.
Experts also said that expectations are growing for relatively strong sales for Black Friday, as the day after the U.S. Thanksgiving holiday is sometimes known, and the ensuing U.S. holiday-shopping season.
Oil firms traded mixed as a result, with Woodside Petroleum down 0.3%, while in Hong Kong China Petroleum & Chemical — known as Sinopec — rose 1.7% and Cnooc fell 0.6%.
In Seoul, market action was muted by concern about continuing sovereign-debt issues in Europe and further tightening moves in China. While tensions on the Korean peninsula have eased after Tuesday’s North Korean artillery barrage on a South Korean island, investors remained cautious.
Tech shares were mostly lower, with Samsung Electronics off 0.7% and Hynix Semiconductor down 2.1%.
Exporter shares led the Tokyo market higher on the back of the improved U.S. consumer outlook and as the yen retreated versus the U.S. dollar.
Sony was up 0.8%, Sharp added 0.4% and Toyota Motor rose 1.1%.
Mitsui O.S.K. Lines gained 1.4% after the company said Wednesday it reached a 25-year contract with Brazil’s Vale SA, the world’s largest iron- ore producer by output, to ship iron ore to China.
Sumitomo Electric Industries was up 2% and SWCC Showa Holdings surged 22% on a Nikkei report that the makers of electric wires will each begin to mass produce energy-saving superconducting wire next year for use in smart power grids and car motors.
In Sydney, materials and financials stocks led broad-based gains as investors were encouraged by Wall Street’s strong showing.
Rio Tinto advanced 0.7% on gains in copper prices while Australia & New Zealand Banking Group rose 0.9% after Southern Cross reiterated its buy rating on the stock.
Lynas rose 7.2% after announcing on Wednesday a rare-earth-supply deal with Japan.
Telstra surged 3.6% after the Australian government reached a deal with independent senators that should allow it to pass its National Broadband Network legislation. That would clear the way for Telstra to announce capital-management plans for the 11 billion Australian dollars ($10.79 billion U.S.) in NBN compensation it’s due to receive from the government.
In Hong Kong, exporters led Thursday’s gains because of the upbeat outlook for U.S. consumer spending.
Consumer goods exporter Li & Fung , which derives a large proportion of its revenue from U.S. customers, surged 5.2%, while shoe maker Yue Yuen rose 0.6%.
In foreign-exchange markets, the euro was lower as continued concern over debt problems in the euro-zone periphery weighed.
The single currency was recently fetching $1.3304 U.S. against $1.3327 U.S. late Wednesday in New York. It was at 111.32 against the yen, compared with 111.43 yen, while the U.S. dollar was at 83.64 yen compared with 83.62 yen, after trading at a weaker level earlier in the Asian trading day.
In other markets
Shanghai’s CSI 300 Index progressed 46.44 points, or 1.5%, to close at 3,223.48
Singapore’s Straits Times Index moved up 22.22 points, or 0.7%, to 3,159.23
Korea’s Kospi Index inched up 1.70 points to 1,927.68
Taiwan’s Taiex Index put on 52.94 points, or 0.6%, to 8,349.99
New Zealand’s NZX 50 Index dropped 4.55 points, or 0.1%, to 3,269.22
Australia’s S&P/ASX 200 Index moved up 8.70 points, or 0.2%, to 4,593.40
