Japanese and Australian stocks ended higher on Friday as U.S. employment data released overnight improved risk appetite and the outlook for the closely watched nonfarm payrolls due later in the day.
In Japan, the Nikkei 225 average increased 66.59 points, or 0.7%, to 10,137.70
Hong Kong’s Hang Seng Index leaped 196.25 points, or 0.9%, to 22,726.40
The broad advance came after data released Thursday showed an increase in U.S. private-sector employment that outstripped economists’ forecasts. The result spurred strong stock gains on Wall Street and buoyed expectations for the U.S. nonfarm payrolls report out Friday.
The Nikkei ended the week with a 2.7% rise, while the Australian benchmark recorded a weekly gain of 1.4%. Markets in Hong Kong, Shanghai and Seoul also rose for a third successive week.
Japanese equities got a boost from a rising dollar, which moved above the 81-yen level overnight. In Asia’s late afternoon trading, the greenback was changing hands at ¥81.28. The weakened yen supported exporters in Japanese trading, also helped by upbeat current-account data.
Auto makers were among the big beneficiaries, as Suzuki Motor Corp. traded up 1.8%, Toyota Motor Corp. gained 1.3% and Mitsubishi Motors Corp. added 2.9%.
Japanese retail stocks advanced after Seven & I Holdings Co. raised its full-year outlook despite a drop in its first-quarter net profit. Seven & I stock rose 1.3% and Aeon Co. added 1%, while Fast Retailing Co. gained 1.9%.
Energy stocks were boosted as Nymex crude futures held their ground above $98 U.S. a barrel.
Santos Ltd. rose 2.2% in Sydney, Inpex Corp. added 1.8% in Tokyo, and Cnooc Ltd. advanced 1.8% in Hong Kong.
Shares of News Corp. marked a 1.3% gain after it closed U.K. tabloid News of the World, amid a scandal involving alleged cell-phone hacking by the paper.
CHINA
Shares in Shanghai also managed to end a bit higher after a choppy trading session amid expectations that monthly inflation data due out Saturday will show a sharp jump.
Shanghai’s CSI 300 Index added 7.50 points, or 0.2%, to 3,109.18
Stock gains on mainland China were muted ahead of the release of much-awaited June inflation figures on Saturday, as several economists expected June’s inflation to climb more than 6% from the year-earlier month, and accelerating from the 5.5% rise registered in May.
Chinese banks and property developers supported the advance in Hong Kong as well as Shanghai.
Industrial & Commercial Bank of China Ltd. rose 1.4% in Hong Kong and 0.7% in Shanghai, while Bank of Communications jumped 2.7% in Hong Kong and edged up 0.5% in Shanghai.
In the property sector, China Overseas Land & Investment Ltd. advanced 1.9% and China Resources Land Ltd. jumped 3.4% in Hong Kong, China Vanke Co. gained 0.6% in Shenzhen, while Poly Real Estate Group Co. rose 1% in Shanghai.
The National Bureau of Statistics brought forward the release date for the data, which was earlier to be announced on July 15.
In other markets;
Korea’s Kospi Index inched back 0.24 points to 2,180.35
Taiwan’s Taiex Index lost 23.87 points, or 0.3%, to 8,749.55
Singapore’s Straits Times Index picked up 25.41 points, or 0.8%, to 3,151.28
New Zealand’s NZX 50 Index faded 4.42 points, or 0.1%, to 3,456.14
Australia’s S&P/ASX 200 Index jumped ahead 49.20 points, or 1.1%, to 4,654.70
