Most Asian markets advanced Monday after European leaders signaled they were prepared to take stronger action to curb the region’s debt crisis, while mainland Chinese stocks declined amid lingering worries of an economic slowdown.
In Japan, the Nikkei 225 Index vaulted 68.80 points, or 0.8%, to 8,635.44
The Hang Seng Index in Hong Kong picked up 310.44 points, or 1.6%, to 19,585.40
The broad gains came after a positive lead from global markets late last week, and after Eurogroup chief Jean-Claude Juncker said Sunday euro-zone members, their rescue fund and the European Central Bank will soon act to save the euro, according to a report
Stimulus hopes saw investors overlook generally lackluster economic data in the U.S. and Europe last week — and in Japan, where data released Monday showed industrial production fell 0.1% in June, compared to expectations for a 1.6% increase.
In Tokyo, Fujifilm Holdings Co. climbed 6.2% after reporting a better-than-expected first-quarter operating profit of 20.9 billion yen ($265.9 million) on Friday.
Konica Minolta Holdings Inc. rose 5.8% after reporting a 94% surge in quarterly operating profit to ¥6.3 billion late last week.
Pharmaceutical shares were also among the notable gainers, with Dainippon Sumitomo Pharma Co. climbing 3.9%, Eisai Co. rising 1.9% and Astellas Pharma Inc. gaining 3.3%.
Fujitsu Ltd. plunged 12.5% after reporting a wider quarterly loss late last week.
Komatsu Ltd. lost 1.8% after Nikkei news reported weak Chinese sales would prompt the firm’s first operating-profit decline in 10 quarters.
Heavyweight stock Samsung Electronics Co. gained 3.4% and Hyundai Motor Co. gained 1.8% in an upbeat market in Seoul.
In Hong Kong, the advance was led by some of the worst performers in recent times, with Sands China Ltd. climbing 5.7% and diversified China Resources Enterprise Ltd. soaring 6.6%.
Shares of HSBC Holdings PLC rose 1.7% ahead of its quarterly earnings results, due at the end of the day’s trading.
Shipbuilder China Rongsheng Heavy Industries Group Holdings Ltd. and Glorious Property Holdings Ltd. slumped 16.4% and 10.6%, respectively. The tumble came after the Securities and Exchange Commission on Friday accused Well Advantage Ltd. — a firm wholly-owned by Zhang Zhirong, chairman of the two companies — of insider trading.
CHINA
A weak finish came on a sharp decline in metals and insurance stocks, with foreign-currency-denominated shares tumbling after regulators strengthened delisting norms.
Shanghai’s CSI 300 index slid 13.32 points, or 0.6%, to 2,335.79
Over on the mainland, several metals and financial firms declined, with Jiangxi Copper Co. sinking 5.7%, Aluminum Corp. of China Ltd. losing 1.3% and China Life Insurance Co. dropping 2.7%.
In other markets
Korea’s Kospi Index improved 14.63 points, or 0.8%, to 1,843.79
Singapore's Straits Times Index picked up 34.31 points, or 1.1%, to 3,032.80
Taiwan’s Taiex Index advanced 34.39 points, or 0.5%, to 7,158.88
New Zealand’s NZX index gained 17.60 points, or 0.5%, to 3,518.89
Australia’s ASX Index moved forward 35.94 points, or 0.9%, to 4,245.71
