Most Asian markets ended higher Thursday, with the South Korean stock benchmark racing to a record as technology stocks were cheered by Apple Inc.’s results and as commodity producers rose on a rally in crude-oil and gold prices.
The Nikkei 225 Index tallied 78.95 points, or 0.8%, to 9,685.77
Hong Kong’s Hang Seng Index triumphed 242.21 points, or 1%, to 24,138.30
Investor sentiment remained positive after solid overnight gains on Wall Street, and was also reflected in the foreign-exchange market as riskier currencies pushed higher against the U.S. dollar. The Australian dollar sparkled, in particular, climbing to a fresh post-float high against the greenback.
In Tokyo, Apple-linked stocks were mostly higher, with chip makers Toshiba Corp. rising 1.9% and Elpida Memory Inc. climbing 3.6%.
Softbank Corp., the exclusive provider of Apple products in Japan, fell 0.4% after climbing 3.9% Wednesday in anticipation of strong earnings from Apple
One expert said Japan’s market would likely be capped by caution and volumes will remain weak ahead of a slew of Japanese corporate results next week. He added that earnings from U.S. chipmaker Advanced Micro Devices will be closely watched later Thursday.
Chip foundries and iPhone parts suppliers and assemblers rose in Taiwan despite a more subdued earnings outlook for the local firms. Another expert said that first-quarter earnings from Taiwan tech firms, most of which are due next week, are likely to disappoint due to the supply-chain impact stemming from the March 11 earthquake in Japan.
Taiwan Semiconductor Manufacturing Co. advanced 1.3% and Hon Hai Precision Industry Co. added 1.4%.
In Seoul, the Kospi hit a record as heavyweight Samsung Electronics Co. added 1.3% and Hynix Semiconductor Inc. surged 7.9%.
Technology makes up about 30% of the Kospi’s market capitalization, so the sector’s anticipated rise will likely provide an upward bias for the overall index, he added.
Financial stocks underperformed, however, with Hana Financial Group Inc. dropping 2.8% after saying Goldman Sachs has sold a 2.88% stake in the company to manage its investment risks.
Australian shares advanced on demand for resource-sector stocks and aided by the rise on Wall Street.
Rio Tinto Ltd. added 1.2% and Mirabela Nickel Ltd. climbed 4% after mostly higher base-metal prices on the London Metal Exchange.
Shares of Santos Ltd added 2.2% and Woodside Petroleum Ltd. gained 2.7% as Nymex crude-oil prices climbed back above the $110-U.S.-a-barrel level.
Higher oil prices also helped lift Cnooc Ltd. by 2.2% and 1.9% in Hong Kong, with PetroChina also gaining 0.4% in Shanghai. Inpex Corp. jumped 3.5% in Tokyo.
Gold miners jumped after the metal rose as high as $1,510.10 U.S. in the spot market. More recently, gold prices were at $1,507.50 U.S., rising $5.50 from their New York settlement Wednesday.
That lifted Newcrest Mining Ltd. stock 2% in Sydney, with Zijin Mining Group Co adding 2.7% and Zhaojin Mining Industry Co. adding 1.2% in Hong Kong.
In foreign-exchange markets, gains in global equities and an uptick in risk-appetite fed into a broad rally for Asian currencies and the euro against the U.S. dollar.
The euro was at $1.4626 U.S. compared with $1.4523 U.S. in late New York trade Wednesday, rising above levels not seen since January 2010. The currency was also buying 119.99 yen versus ¥119.85. The dollar, meanwhile, was at ¥82.06 against ¥82.54.
In other markets;
Shanghai’s CSI 300 Composite Index picked up 21.61 points, or 0.7%, to 3,317.37
Korea’s Kospi Index picked up 28.63 points, or 1.3%, to 2,198.54
Taiwan’s Taiex Index grew 144.37 points, or 1.6%, to 8,957.65
Singapore’s Straits Times Index improved 28.93 points, or 0.9%, to 3,194.73
New Zealand’s NZX 50 tacked on 19.59 points, or 0.6%, to 3,492.40
Australia’s S&P/ASX 200 surged 54.80 points, or 1.1%, to 4,913.80
