Most major Asian stock markets made solid gains Friday, as the region’s investors cheered signs of strength in the U.S. economy.
In Japan, the Nikkei 225 Index hiked 179.76 points, or 1.5%, to 12,560.95
In Hong Kong, the Hang Seng index chopped 86.07 points, or 0.4%, to 22,533.11
However, South Korea’s index fell, with losses for index heavyweight Samsung Electronics Co. providing a drag.
Asia’s mostly higher performance came after U.S. stocks rose Thursday, with the S&P 500 index coming very close to hitting a record high, just as the Dow Jones Industrial Average did last week.
An unexpected drop in jobless claims provided the trigger for U.S. gains, suggesting that the labor market is improving.
Japan’s stock gains Friday came as the government upgraded its assessment of the economy for the third straight month, citing improvements in industrial production and corporate profits.
At the same time, the upper house of Japan’s parliament confirmed Haruhiko Kuroda — seen as dovish on monetary policy — as the new governor of the Bank of Japan.
Among Tokyo-listed winners Friday, TDK Corp. rose 3.1%, Nikon Corp. climbed 2.5%, and Sony Corp. soared 11%, helped by a ratings upgrade from Daiwa Securities.
Globally exposed shipping companies were also strong, with Nippon Yusen K.K. surging 6.4%, Mitsui O.S.K. Lines Ltd. up 6%, and Kawasaki Kisen Kaisha Ltd. higher by 4.1%.
Meanwhile, Australian shares rebounded from losses made in the previous session, when strong jobs numbers prompted a scaling back of interest-rate-cut expectations.
Banks and consumer staples firms were in the lead in Sydney, with Commonwealth Bank of Australia finishing higher by 1.9%, and Wesfarmers Ltd. advancing 2.5%.
Earnings gave Hong Kong a mild lift, with telecom giant China Mobile Ltd. up 0.5% to add to mild earnings-related gains made the day before — the telecom posted a 2.7% rise in annual profit and said it would make a massive investment in building out a 4G network.
Ping An Insurance Group Co. rose 0.8%.after posting a 3% rise in fiscal-year profit, while fellow insurer AIA Group Ltd. climbed a sharper 2.1%.
Banks also advanced in Hong Kong, with HSBC Holdings PLC, up 2.1%, and Standard Chartered PLC, higher by 2.4%, extending gains made Thursday after news that they would hike mortgage rates in Hong Kong.
Over in Seoul, Samsung Electronics fell 2.2%, after the firm unveiled its latest smartphone the Galaxy S4, at an event in New York.
South Korean auto stocks offered a bright spot, however, with Hyundai Motor Co. up 3.8%, and affiliate Kia Motors Corp. higher by 2.6%.
CHINA
As for mainland China, the banking sector was among the sources of strength Friday
The Shanghai CSI 300 Composite 300 index gained 5.60 points, or 0.2%, to 2,539.87
China Minsheng Banking Corp. was up 4% in late trade, and China Citic Bank Corp. higher by 3.1%.
China’s securities regulator has proposed scrapping some requirements applying to domestic investors seeking outbound investment, the latest in a series of moves that could further open up the country’s capital account.
In other markets
In Korea, the Kospi Index faded 15.63 points, or 0.8%, to 1,986.50
In Taiwan, the Taiex Index docked 24.27 points, or 0.3%, to 7,927.49
The Singapore Straits Times Index recovered 6.55 points, or 0.2%, to 3,286.05
In New Zealand, the NZX 50 index added 5.96 points, or 0.1%, to 4,387.06
In Australia, the S&P/ASX vaulted 88.02 points, or 1.8%, to 5,120.24
