Asia stocks moved higher in a choppy session on Friday, as investors absorbed a slew of Chinese data, including figures showing the nation’s economy grew in line with expectations during the second quarter of 2012.
Japan’s Nikkei 225 Index inched up 4.11 points, or 0.1%, to close out the week at 8,724.12
The Hang Seng Index in Hong Kong strengthened 67.52 points, or 0.4%, to 19,092.69
Resource and financial-sector shares were among the gainers after the release of the Chinese data.
Aluminum Corp. of China Ltd. climbed 2% and China Coal Energy Co. jumped 3.6% in Hong Kong.
In the financial sector, Hong Kong-listed China Life Insurance Ltd. traded up 1.2% and Bank of Communications Co. put on 0.6%.
Shares of Sun Hung Kai Properties Ltd were up 0.1% early Friday, when trading in them was suspended, pending an announcement.
Sino Land Ltd. rose 2% in Hong Kong, while footwear company Belle International Holdings Ltd. rallied 4% after reporting strong second-quarter sales.
Exporters rose in Seoul, with Samsung Electronics Co. rallying 4.4% and Hyundai Motor Corp. surging 3.4%.
The Bank of Korea downgraded its 2012 growth forecast on Friday, fueling expectations for another interest rate cut just one day after the central bank surprised markets with its first cut in more than three years.
A lift for financial firms helped to buoy Sydney.
Asset managers Perpetual Ltd. and AMP Ltd. rose 1.6% and 1.9% respectively, while banking heavyweight Westpac Banking Corp. added 0.8%.
CHINA
China’s economy expanded 7.6% in the second quarter from a year earlier, broadly in line with expectations of economists surveyed by Dow Jones Newswires.
Shanghai’s CSI 300 index added 1.45 points to 2,450.63
In other data released simultaneously Friday by the National Bureau of Statistics, industrial production was also slightly weaker, expanding 9.5% in June, compared to May’s 9.6% expansion.
China Vanke Co. jumped 2.4% in Shanghai.
In other markets
Korea’s Kospi Index gained 27.50 points, or 1.5%, to 1,812.89
Singapore's Straits Times Index grew 23.52 points, or 0.8%, to 2,995.56
Taiwan’s Taiex Index slid 26.66 points, or 0.4%, to 7,104.27
New Zealand’s NZX index sagged 5.99 points, or 0.2%, to 3,495.41
Australia’s ASX Index advanced 14.28 points, or 0.4%, to 4,082.25
