Japanese and Chinese markets ended higher in light trade Friday, with investors focusing more on U.S. gains overnight than on data showing a further contraction in China’s manufacturing activity.
Japan’s Nikkei 225 Index regained 56.46 points, or 0.7%, to end 2011 at 8,455.35
In Hong Kong, the Hang Seng Index added 36.47 points, or 0.2%, to 18,434.40
For the year, however, all of the top Asian stock indexes were well in negative territory. The South Korean Kospi was off 11% in 2011, with the S&P/ASX 200 down 14.5%, the Nikkei Average 17.3% lower, the Hang Seng Index down 20%.
U.S. jobless claims rose but held below the crucial 400,000 level for the fourth straight week, with the number filing for benefits during the past month hitting a three-year low.
Also helping sentiment, yields dropped on Italian long-dated debt at a closely watched bond auction Thursday.
In Hong Kong, mainland Chinese property firms — normally sensitive to possible easing measures — traded mixed in volatile action. China Resources Land Ltd rose 0.8%, while China Overseas Land & Investment Ltd. fell 1.1%.
Meanwhile, some firms with strong exposure to Europe saw their shares move higher in the wake of the Italian bond-auction results. London-headquartered HSBC Holdings PLC -- the top-weighted component of the Hang Seng Index -- gained 1%, while fashion house Prada SpA added 1.6%.
Over in Tokyo, a number of major exporters pared losses from the previous session. Sony Corp. improved by 2%, Sharp Corp. added 1.1%, and Panasonic Corp. rose 1.6%.
Retailers also advanced in Tokyo, with index heavyweight Fast Retailing Co. adding 1.2%, while shares in J. Front Retailing Co. gained 1.9%.
In Australian trade, weakness in most of the energy firms helped lead Sydney to a lower finish.
Woodside Petroleum Ltd. lost 1.2%, Caltex Australia Ltd. retreated 1.3%, and Karoon Gas Australia Ltd. fell 4%
CHINA
Meanwhile, HSBC’s closely watched survey of Chinese manufacturing firms, released Friday, showed slightly more weakness than an initial reading earlier this month, with the key index remaining in contractionary territory.
Shanghai’s CSI 300 index grew 34.38 points, or 1.5%, to 2,345.74
One expert said the result offered a bright side, in that it helped pave the way for further policy easing and stimulus in the world’s second-largest economy.
Another said stock-picking will be key for those buying the Chinese real-estate names, and "investors should be looking closely at which ones they hold, especially as most cities will extend home-price curbs into 2012."
In other markets;
Taiwan’s Taiex Index slid 2.74 points to 7,072.08
Korea’s Kospi Index had the day off to end the year at 1,825.74
Singapore’s Straits Times Index sliced off 26.43 points, or 1%, to 2,646.35
New Zealand’s NZX 50 Index picked up 28.46 points, or 0.9%, to 3,274.71
Australia’s S&P/ASX 200 Index dipped 14.50 points, or 0.4%, to 4,056.60
