Most Asian markets rose on Friday as successful Italian and Spanish bond auctions and comments from the European Central Bank helped alleviate concerns about the region’s debt crisis.
In Japan, the Nikkei 225 Index regained 114.43 points, or 1.4%, to end the week at 8,500.02
In Hong Kong, the Hang Seng Index tacked on 109.04 points, or 0.6%, to 19,204.40
Shares of Pacific Metals Co. jumped 4.5% in Tokyo, Rio Tinto Ltd. added 0.7% in Sydney and Korea Zinc Co. climbed 3.6% in Seoul. In Hong Kong, Aluminum Corp. of China Ltd. added 2.2% and Maanshan Iron & Steel Co. gained 3.5%.
Shares of Inpex Corp. climbed 1.2% after the Japanese energy producers and French partner Total SA gave the go-ahead to a massive $34 billion Ichthys natural gas-export project in Australia.
Many of the region’s exporters also climbed, with those in Japan rising as the euro climbed above the 98-yen level. Honda Motor Co. rose 3.4% and Sharp Corp. closed 2% higher.
The broad regional gains came as U.S. stocks ended with modest gains Thursday. The euro also appreciated versus the dollar after successful Spanish and Italian bond auctions, reflecting positive investor sentiment.
European Central Bank President Mario Draghi’s comment that the bloc’s debt markets seem to have stabilized also helped sentiment, strategists said.
Several mining and metals shares climbed in Asia after a softer dollar pushed commodity prices higher on Thursday.
In Hong Kong, footwear retailer Belle International Holdings Ltd. plunged 6.9% on disappointment over its fourth-quarter same-store sales growth
CHINA
Mainland Chinese stocks, which tumbled after data showing a drop in fourth-quarter foreign exchange reserves, proved a notable exception.
In Shanghai, the CSI 300 Index dropped 40.89 points, or 1.7%, to 2,394.33
Mainland Chinese stocks fell sharply after data showed the country’s foreign-exchange reserves fell by $20.6 billion U.S. in the fourth quarter to $3.18 trillion U.S. amid a shrinking trade surplus and worries about foreign exchange outflows.
Shares of Anhui Conch Cement Co. dropped 4.6%, electrical appliances distributor Qingdao Haier Co. fell 4.3% and SAIC Motor Co. declined 3.9%.
Some analysts remained optimistic that Beijing will relax its monetary policy stance to support economic growth.
In other markets;
Taiwan’s Taiex Index sliced off 5.04 points, or 0.1%, to 7,181.54, on caution ahead of
Presidential elections over the weekend.
Korea’s Kospi Index boosted 11.11 points, or 0.6%, to 1,875.68
Singapore’s Straits Times Index restored 47.88 points, or 1.8%, to 2,791.54
New Zealand’s NZX 50 Index added 7.63 points, or 0.2%, to 3,227.46
Australia’s S&P/ASX 200 Index moved ahead 14.89 points, or 0.4%, to 4,195.89
