Asian stocks ended a turbulent week on an upbeat note Friday, with the launch of Apple Inc.’s newest iPhone helping technology and telecom companies, while Japan Airlines Co. fell below its offer price as bilateral tensions between China and Japan weighed on airlines.
The Nikkei 225 Index improved 23.02 points, or 0.3%, to end the week at 9,110.
The Hang Seng Index in Hong Kong ballooned 144.02 points, or 0.7%, to 20,734.94
Strong performers on Friday included Sharp Corp., jumping 5% in Tokyo after the Mainichi Shimbun reported that the cash-strapped firm is in talks with Intel Corp. for a capital tie-up, including a cash injection of about $380 million U.S.
The share gains stuck, even after Sharp denied the report.
Sharp also supplies components to Apple, which launched its eagerly-anticipated new iPhone 5 in key markets across the world Friday.
Japan Airlines Co. fell 4.3% to end below its initial offer price in its third trading session since debuting in Tokyo, after the company said it is having to cancel flights to China amid the anti-Japanese protests.
Hong Kong-listed China Eastern Airlines ended 1.6% lower after saying it will postpone the introduction of a new Japan route owing to low demand.
Apple’s Chinese partners and mobile-service providers, which won’t be offering the new iPhone for a few more months on the mainland, gained ground.
In Hong Kong trading, China Telecom Corp. rose 1.8% and China Unicom Ltd. gained 1.9%.
SmarTone Telecommunications Holdings Ltd. moved 2.3% higher in Hong Kong.
Among service providers, Singapore Telecommunications Ltd. rose 0.6% in Singapore and Telstra Corp. advanced 0.3% in Sydney.
Taiwanese technology companies in the iPhone 5 supply chain advanced, with Hon Hai Precision Industry Co. up 0.8%, Genius Electronic Optical Co. jumping 6.9% and Cheng Uei Precision Industry Co. ahead by 1.4%.
Screen manufacturer LG Display Inc., another Apple supplier, fell 2.7% to pare month-to-date gains to 9.1% in South Korea.
Apple’s archrival in the smartphone market, Samsung Electronics Co..gained 1.2% in South Korea after recent losses, while Taiwan-listed rival smartphone maker HTC Corp. climbed 3.5%.
While huge queues formed to buy the phone in Sydney and Hong Kong, complaints also emerged from customers about the phone’s software.
Not all technology firms gained on Friday, with some Japanese semiconductor firms declining after a Nikkei report that the firms may need to cut spending due to a slower-than-expected recovery for the Chinese economy.
Dainippon Screen Mfg. Co. fell 3.4%, Tokyo Electron Ltd. declined 2.1% and Advantest Corp. dropped 3%.
Woodside Petroleum Ltd. rose 0.6% in Sydney, Inpex Corp. gained 2% in Tokyo and PetroChina Co. rose 1.4% in Hong Kong.
Central banks have been stepping in with monetary-policy easing to limit weakness in the global economy, with bond-buying plans by the Federal Reserve last week and the Bank of Japan on Wednesday marking the latest efforts in this direction.
That’s likely to come after the 18th National Congress, he said, and expects the Hang Seng Index to reach 22,000 in the fourth quarter of the year. It’s currently at 20,756.
On the downside in Australia, gold miner Newcrest Mining Ltd. fell 3% after it said that production at its Lihir operation in Papua New Guinea has been temporarily reduced.
In Hong Kong, shares of Li & Fung Ltd. dropped 2.6% after a Wall Street Journal report said Wal-Mart Stores Inc. had canceled much of its supply deal with the Chinese firm.
Some Asia-listed firms have some share-price pressure this week amid protests in China over ownership of a group of tiny islands in the East China Sea.
Dongfeng Motor Group Co, for example, has a joint venture with Honda Motor Co.
Dongfeng shares fell 0.4% in Hong Kong. Honda shares were down 0.9% in Japan, with losses for the week at 2.7%.
In other markets
Shanghai’s CSI 300 index regained 3.11 points, or 0.1%, to 2,199.06
Korea’s Kospi index gained back 12.04 points, or 0.6%, to 2,002.37
The Singapore Straits Times Index strengthened 15.62 points, or 0.5%, to 3,078.23
Taiwan’s Taiex Index added 27.04 points, or 0.4%, to 7,754.59
New Zealand’s NZX index lopped off 9.71 points, or 0.3%, to 3,809.57
Australia’s ASX Index tacked on 11.06 points, or 0.3%, to 4,408.29
