Asian stock markets posted solid gains Friday, cheering an overnight charge on Wall Street, and on optimism over U.S. jobs data due later in the day, though concerns over high crude-oil prices remained firmly in place.
The Nikkei 225 index in Tokyo leaped 107.64 points, or 1%, to 10,693.30
Hong Kong’s Hang Seng Index rocketed higher by 286.44 points, or 1.2%, to 23,408.90
South Korean stocks added to Thursday’s significant gains as foreign investors remained buyers, with gains led by construction shares, which had posted heavy losses in the wake of the Libyan turmoil. Hyundai Engineering & Construction Co. rose 2.8%, while Samsung Engineering Co. up 5.3%.
In Tokyo, shares of Sumitomo Electric Industries surged 8.1% on a Nikkei report that the company had developed a new rechargeable molten-salt battery. Konica Minolta Holdings added 4.2% on a separate Nikkei report that it had signed a major office-equipment-supply deal with Germany’s Allianz.
Exporters with strong business exposure to Europe climbed after the euro jumped overnight on hopes the European Central Bank would hike interest rates soon. E.C.B. President Jean-Claude Trichet had surprised markets by signaling the possibility of a hike at next month’s meeting, and by warning that risks of inflation in the euro-zone were to the upside.
Shares of Mazda Motor Corp. added 3.5% and Nikon Corp. gained 1.9%.
In Hong Kong, better-than-expected U.S.-jobless-claims data Thursday helped lift sourcing firm Li & Fung by 4.4%. The company is the biggest supplier to Wal-Mart Stores.
Hutchison Telecommunications Hong Kong Holdings gained 3.2%, though SmarTone Telecommunications Holdings fell 0.8% on profit taking after the city’s telecommunications regulator said Thursday the firms were the winning bidders in a Hong Kong auction of radio spectrum. SmarTone shares are still up more than 72% so far in 2011.
In foreign-exchange markets, the euro took a breather against the greenback after rising sharply Thursday. The single currency was buying $1.3955 U.S. from $1.3967 U.S. in late New York trade Thursday, and 115.03 yen from ¥115.07. The dollar was at ¥82.42, from ¥82.44.
CHINA
Chinese banks were mostly higher on expectations they will report strong full-year 2010 earnings.
The Shanghai CSI 300 Index regained 48.95 points, or 1.5%, to 3,270.67
China Merchants Bank Co. rose 3% and Industrial & Commercial Bank of China added 1.7% in Hong Kong; in Shanghai, they gained 1.4% and 1.2%, respectively.
Some Chinese gold miners fell after gold prices retreated Thursday, with Shandong Gold-Mining losing 0.5% and Zijin Mining Group falling 0.2% in Shanghai.
In other markets;
Taiwan’s Taiex Index picked up 46.03 points, or 0.5%, to 8,784.40
Korea’s Kospi Index gained 34.02 points, or 1.7%, to 2,004.68.
Singapore’s Straits Times Index improved 23.96 points, or 0.8%, to 3,061.31
New Zealand’s NZX 50 prospered 20.80 points, or 0.6%, to 3,418.11
Australia’s S&P/ASX 200 galloped 57.90 points, or 1.2%, to 4,864.30
