Asian stock markets rallied on Wednesday after another record finish for key U.S. equity indexes and strong Chinese trade data, with Japanese shares edging closer to five-year highs.
The Nikkei 225 added 105.45 points, or 0.7%, to 14,285.09, its highest close since June 18, 2008.
In Hong Kong, the Hang Seng Index soared 197.26 points, or 0.9%, to 23,244.35
The resource sector was a notable gainer across the region as the jump in monthly imports underlined the strength of Chinese demand.
PetroChina Co. rose 2.9%, and Cnooc Ltd. climbed 1.4% in Hong Kong, despite an overnight drop in prices of several commodities;
Elsewhere, Fortescue Metals Group Ltd. spiked 5.4%, and Rio Tinto Ltd. moved 2.6% higher in Sydney.
In Tokyo, energy producer Inpex Corp. gained 1.8%, and trading house Marubeni Corp. jumped 1.1%.
In Hong Kong, banking major HSBC Holdings PLC jumped 1.7% to front the market advance a day after it reported a surge in first-quarter profits.
On the downside, Esprit Holdings Ltd. dropped 4.8% after the apparel retailer issued a profit warning.
Shares of bourse operator Hong Kong Exchanges & Clearing Ltd. slid 1.1% after its quarterly profit rose just 1% from a year-earlier, although revenue increased 20%..
In Tokyo, meanwhile, shares of Softbank Corp. advanced 2.9% after Alibaba Group Holding Ltd. — in which the mobile-service provider holds a stake — said its profits nearly tripled in the fourth quarter of 2012.
The gains followed a day after Softbank unveiled six new smartphone models, including handsets that are compatible with high-definition television broadcasts for mobile phones, according to a Nikkei newspaper report.
Sharp Corp. jumped 6.3% after the Nikkei newspaper reported two banks had increased the line of credit they set up for the company.
Some exporters also advanced on strong cues from Wall Street, with Olympus Corp. gaining 5% and Sony Corp. rising 2.1%.
But shares of Toshiba Corp. tumbled 5% after the Nikkei separately reported the company may have missed its operating profit forecast for the fiscal year ended March 31.
Australian shares, which ended lower on Tuesday after the Reserve Bank of Australia (RBA) surprised most economists with an interest rate cut, gained as some banks and telecommunication major Telstra Corp. recovered on the back of their dividend appeal.
Shares of Commonwealth Bank of Australia gained 1.3%, and Australia & New Zealand Banking Group Ltd. added 0.9%, while Telstra also climbed 1.2%.
CHINA
In Shanghai, the CSI 300 Index increased 12.86 points, or 0.5%, to 2,542.83, after official data showed China posted a trade surplus of $18.16 billion U.S. in April. Exports jumped 14.7% from a year-earlier and imports rose 16.8%, with both exceeding expectations.
In Shanghai, coal miners China Shenhua Energy Co. gained 0.4%, and China Coal Energy Co. added 0.2%.
In other markets;
Singapore’s Straits Times Index gained 29.86 points, or 0.9%, to 3,413.02
Taiwan’s Taiex Index hiked 104.03 points, or 1.3%, to 8,267.09
Korea’s Kospi Index eked up 2.10 points, or 0.1%, to 1,955.45
The New Zealand Exchange 50 tacked on 18.55 points, or 0.4%, to 4,640.28
Australia’s S&P/ASX spiked 56.02 points, or 1.1%, to 5,199.75
