Mainland Chinese and Hong Kong stocks posted their strongest performance in more than seven months on Friday after Beijing announced a slate of new infrastructure projects to spur a slowing economy.
In Japan, the Nikkei 225 Index rocketed higher 191.08 points, or 2.2%, to 8,871.65
The Hang Seng Index in Hong Kong shot up 592.68 points, or 3.1%, to 19,802.16
Other Asian markets also rallied because of a celebratory mood in global markets after the European Central Bank unveiled an expansive bond-buying plan to stabilize markets, and as investors looked ahead to a U.S. jobs report with optimism.
U.S. stocks surged to near multi-year highs overnight after ECB President Mario Draghi announced the plan to ease borrowing strain and avert any immediate break-up of the currency bloc.
Stocks across Asia joined in the global rally.
Europe-exposed exporters climbing in Tokyo, helped further by a drop in the yen overnight, particularly against the euro.
Mazda Motor Corp. jumped 4.5%, Canon Inc. climbed 4.6% and Sony Corp. shot up 5.6%.
Shares of Toyota Motor Corp. added 3.4%, helped further by a Nikkei report that the car maker hopes to double its China sales by 2015.
Japanese financials were also strong, as Nomura Holdings Inc. rallied 4.5% and Mitsubishi UFJ Financial Group Inc. put on 2.5%.
In Hong Kong, heavyweight stock HSBC Holdings PLC rose 2.5%.
AIA Group Ltd. spiked 6.8% after American International Group Inc. sold a stake worth about $2 billion at a premium.
Sharp rises for firms in the key shipbuilding sector led the advance in Seoul, where Daewoo Shipbuilding & Marine Engineering gained 4.7%, and Hyundai Heavy Industries Co. rose 4.6%.
Growth-tied stocks climbed across the region, with steel makers in Japan showing strength, as Nippon Steel Corp. climbed 8.7% and rival JFE Holdings Inc. soared 10.7%.
In Sydney, diversified miners Rio Tinto Ltd. and BHP Billiton Ltd. rallied 4.4% and 2%, respectively, getting a lift from a solid overnight performance for commodity markets.
Iron-ore producer Fortescue Metals Group Ltd. recovered some recent losses to rebound 11.5%. The stock still ended the week 6.5% lower.
On the downside, shares of Consolidated Media Holdings Ltd. fell 0.6% after the Australian media investment company said it received revised 1.94 billion Australian dollar ($2 billion) bid from News Corp, less than the offer News Corp. made for the firm in June. News Corp stock rose 1.5%.
CHINA
Sentiment was bolstered as China authorities pushed out infrastructure projects aimed at providing stimulus to the cooling economy.
Shanghai’s CSI 300 index took on 99.36 points, or 4.5%, to 2,317.18
Cement producers were the day’s star performers, with Anhui Conch Cement Co., Gansu Qilianshan Cement Group Co. and Sinchuan Shuangma Cement Co. each jumping by the day’s 10% limit on Chinese bourses.
In other markets
Korea’s Kospi index acquired 48.34 points, or 2.6%, to 1,929.58
The Singapore Straits Times Index gained 22.44 points, or 0.8%, to 3,011.70
Taiwan’s Taiex Index gathered 98.19 points, or 1.3%, to 7,424.91
New Zealand’s NZX index added 28.64 points, or 0.8%, to 3,722.18
Australia’s ASX Index improved 12.95 points, or 0.3%, to 4,325.84
