Japanese stocks rose Thursday as strong U.S. jobs data inspired optimism and a weaker yen boosted exporters, while Chinese shares declined as investors locked in recent gains.
The Nikkei 225 index soared 148.99 points, or 1.4%, to 10,529.80
Hong Kong’s Hang Seng Index continued its streak, gaining another 28.48 points, or 0.1%, to 23,786.30.
In Japan, manufacturing and technology exporters were also helped by the U.S. dollar’s surge against the yen Wednesday.
Fanuc rose 2.7%, Kyocera climbed 3.1% and TDK Corp. gained 3.4%.
JVC Kenwood Holdings soared 26% after it officially announced a capital-increase plan late Wednesday. The stock had previously suffered steep losses due to concerns about share dilution.
Trading volume was light in Sydney, where uncertainty over the impact of flooding in the state of Queensland weighed on the market. But Insurance Australia Group, recovering from recent flood-related declines, rose 1.8%. And Coca-Cola Amatil rose 1.1% in spite of saying that the floods and cooler weather on the east coast of Australia were hurting earnings.
In Seoul, shipbuilders gained on hopes for new orders, with Hyundai Heavy Industries up 2%, Samsung Heavy Industries up 0.6% and Daewoo Shipbuilding up 1.5%.
Technology shares fronted the advance in Taipei.
Yuanta Financial Holding jumped 6.3% after the company announced that it will realize a profit of 7.19 billion new Taiwan dollars ($246 million U.S.) from the planned sale of its entire stake in Singapore brokerage firm Kim Eng Holdings to Malaysia’s Malayan Banking, or Maybank.
In foreign-exchange trading, the U.S. dollar rose against the euro but lost some of its recent gains against the Japanese yen, as investors digested Wednesday’s jobs-driven surge and looked toward Friday’s U.S. nonfarm-payroll data.
The euro was buying $1.3126 U.S. from $1.3150 U.S. in late New York trade on Wednesday, and ¥109.02 from ¥109.47. The dollar was fetching ¥83.05 from ¥83.25.
CHINA
Coal miners in Shanghai were also hit by profit taking.
Shanghai’s CSI 300 Index dipped 16.02 points, or 0.5%, to 3,159.64
China Coal Energy Co. slipping 0.7% and China Shenhua Energy dropping 1.4%; in the previous four sessions they’d gained 6.4% and 4.5%, respectively.
Shares of Ping An Insurance declined 4.1% in Shanghai and 0.7% in Hong Kong, amid market speculation that the firm may launch a capital-raising issue.
In other markets
Korea’s Kospi Index faltered 4.94 points, or 0.2%, to 2,077.61
Taiwan’s Taiex Index regained 36.90 points, or 0.4%, to 8,883.21
Singapore’s Straits Times Index gained 25.45 points, or 0.8%, to 3,279.70
New Zealand’s NZX 50 gained 1.72 points to 3,326.71.
Australia’s S&P/ASX 200 Index inched ahead 10.10 points, or 0.2%, to 4,725.
