Japanese stocks shot higher Friday, outrunning other Asian markets by a wide margin, as an overnight advance on Wall Street and a weakened yen combined with upbeat industrial-production data to lift sentiment.
In Japan, the Nikkei 225 leaped 463.77 points, or 3.5%, to end the week at 13,677.32
The performance helped the benchmark pare its monthly loss in June to 0.7%. In the first half of 2013, however, the Nikkei still remains the best performer among regional benchmarks with a gain of 31.6%.
Hong Kong’s Hang Seng Index zoomed 363.21 points, or 1.8%, to 20,803.29
Data released Friday painted a mostly strong picture of economic conditions in Japan, providing a further lift. Industrial output for May saw a particularly robust gain, rising 2% to trounce expectations for a 0.2% improvement.
Shares of Sumitomo Mitsui Trust Holdings Inc. soared 8.2%, Sharp Corp. rose 8.1%, Mitsubishi Estate Co. climbed 6.7%, Fast Retailing Co. added 6.2% and Mazda Motor Co. rose 4.6% in a rally that touched most sectors.
Shares of Renesas Electronics Corp. added 3.4%, after the chip maker said late Thursday it would withdraw from most of its loss-making mobile operations, according to Kyodo News.
In Hong Kong, gains were spread wider, with China Life Insurance Co. rising 2.5%, China Overseas Land & Investment Ltd. gaining 4.6%, and personal-products maker Hengan International Group Ltd. advancing 7.2%.
In Seoul, auto makers and financial stocks advanced, with Hyundai Motor Co. gaining 3.4%, and Shinhan Financial Group Co. rising 1.5%
CHINA
The Shanghai Shenzhen CSI 300 jumped 39.90 points, or 1.9%, to 2,200.64
Stock gains in Shanghai were aided by a further rebound in most banks from heavy recent losses, with property firms also rising.
China Minsheng Banking Corp. climbed 4.4%, paring the loss so far this week to 9.3%, while Bank of Communications Co. rose 1.8%, narrowing its weekly drop to 4%.
In other markets;
Taiwan’s Taiex Index spiked 178.31 points, or 2.3%, to 8.062.21
Singapore’s Straits Times Index gathered 32.41 points, or 1%, to 3,150.44
Korea’s Kospi Index climbed 28.62 points, or 1.6%, to 1,863.32
In New Zealand, the Exchange 50 Gross Index picked up 23.21 points, or 0.5%, to 4,440.17
In Australia, the S&P/ASX 200 lost 8.69 points, or 0.2%, to 4,802.59
