Major Asian stock benchmarks jumped 2% or more on Thursday to end February on a buoyant note, as eased worries over Italy and the U.S. Federal Reserve’s commitment to monetary stimulus boosted investor sentiment.
In Japan, the Nikkei 225 Index rocketed 305.39 points, or 2.7%, to 11,559.36
In Hong Kong, the Hang Seng index zoomed higher by 443.26 points, or 2%, to 23,020.27
The broad regional gains came a day after an Italian debt auction saw a better-than-expected response and Fed Chairman Ben Bernanke’s reaffirmed his commitment to the central bank’s bond-purchase program.
In Hong Kong, heavyweight HSBC Holdings PLC rose 2.2%, Bank of China Ltd. climbed 3.1% and New World Development Co. rallied 3.8%.
Shares of Citic Pacific Ltd. spiked 7.6% after the diversified firm posted better-than-expected earnings for 2012.
On Thursday, the Japanese government formally nominated Haruhiko Kuroda, a monetary policy dove, as the new central-bank governor. The appointment had been expected.
Shares of Japan’s key exporters improved broadly in line with the yen weakness.
Advantest Corp. climbed 4.5%, Toshiba Corp. rose 5.2%, Toyota Motor Corp. added 3.5% and Nissan Motor Co. advanced 3.9%.
All three car companies increased the China production in January, for the first time since last year’s flare-up of a territorial dispute between Beijing and Tokyo, according to a report in the Nikkei business daily.
Machinery firm Komatsu Ltd. rose 3.7% after the Nikkei reported separately that the firm is expected to post an operating profit of more than ¥300 billion ($3.25 billion U.S.) in the fiscal year ending March 2014, with a slide in the yen forecast to lift earnings.
In Australia, energy firms and banks posted gains, with Woodside Petroleum Ltd. up 3.6% and Commonwealth Bank of Australia higher by 1.9%.
Asset manager Perpetual Ltd. added 4.2% after posting a 19% increase in first-half net profit.
Retailer Harvey Norman Holdings Ltd. rallied 9.2% after saying its has seen an uptick in recent sales, although its first-half profit fell 36%.
CHINA
Property and financial shares fronted the rally for Chinese equities.
The Shanghai CSI 300 Composite 300 index progressed 78.65 points, or 3%, to 2,673.33
On the mainland bourses, China Vanke Co. surged 6% in Shenzhen, while Gemdale Corp. rose 3.7% in Shanghai.
In other markets
Korea’s Kospi Index added 22.45 points, or 1.1%, to 2,026.49
Markets in Taiwan were shuttered for Peace Memorial Day
The Singapore Straits Times Index eked up 8.83 points, or 0.3%, to 3,269.95
In New Zealand, the NZX 50 index progressed 43.69 points, or 1%, to 4,320.01
In Australia, the S&P/ASX added 67.49 points, or 1.3%, to 5,104.08
