Most Asian markets pulled higher Thursday, with Japanese auto firms standing out as a weakened yen spurred the nation’s exporters, while regional energy shares were hit by a sharp fall in oil prices.
The Nikkei 225 Index regained 77.72 points, or 0.9%, to 8,824.59, snapping a four-session losing streak.
In Hong Kong, the Hang Seng Index hiked 19.67 points, or 0.1%, to 20,907.95
A drop in the Japanese yen against the U.S. dollar aided shares of exporters, with auto firms doing especially well.
Toyota Motor Corp. climbed 3%, Honda Motor Co. jumped 3.2%, and Nissan Motor Co. soared 5.1%.
The U.S. dollar was fetching ¥78.56 Thursday afternoon in Hong Kong, compared with ¥78.53 late Wednesday in North America, where it was changing hands for ¥78.13 Tuesday. The dollar’s gains followed data showing an improvement in U.S. private-sector hiring and services-sector activity.
Canon Inc. dropped 2.2%. after Credit Suisse cut its price target and profit forecast.
Casino stocks fell in afternoon trade in Hong Kong. Shares of Sands China Ltd. and fellow casino operator Galaxy Entertainment Group Ltd. both ended down 3.5%.
In other Hong Kong action, HSBC Holdings PLC tacked on 1.8%.
Australian banks also rose, meanwhile, extending gains after an interest-rate cut from the Reserve Bank of Australia earlier this week.
Westpac Banking Corp. rose 1.6%, while Commonwealth Bank of Australia added 1%.
Energy sector shares in the region were notably lower during the session after crude-oil futures skidded by around 4% Wednesday.
Woodside Petroleum Ltd. dropped 1% in Sydney and Inpex Corp. fell 1.6% in Tokyo.
In Hong Kong, Cnooc Ltd. and PetroChina Co. shed 1.6% and 0.6%, respectively, while lubricant oil producer Michang Oil Industry Co. fell 0.6% in Seoul.
In other markets
Markets in Shanghai had the day off
The Singapore Straits Times Index gathered 9.50 points, or 0.3%, to 3,086.64
Korea’s Kospi index returned from holiday to erase 3.35 points, or 0.2%, to 1,992.68
Taiwan’s Taiex Index dipped 2.29 points to 7,682.34
New Zealand’s NZX index subtracted 7.61 points, or 0.2%, to 3,881.99
Australia’s ASX Index picked up 13.79 points, or 0.3%, to 4,452.36
