Stocks in Hong Kong and Australia bounced back on Thursday after better-than-expected U.S. economic data spurred gains on Wall Street, while a strengthened yen dragged on Japanese shares.
In Japan, the Nikkei 225 faded 36.63 points, or 0.3%, to 14,018.93
Hong Kong’s Hang Seng Index regained 321.36 points, or 1.6%, to 20,468.67
The region’s broad gains followed an overnight advance for U.S. equities after data painted a brighter employment picture, with a report showing a stronger-than-estimated increase in private-sector jobs, while weekly jobless claims unexpectedly declined.
Shares of several energy producers advanced after a recent rally in U.S. benchmark crude-oil futures amid worries over the political turmoil in Egypt, where the military ousted President Mohammed Morsi on Wednesday.
Cnooc Ltd. gained 2.1% in Hong Kong, Inpex Corp. inched up 0.3% in Tokyo and Woodside Petroleum Ltd. climbed 3% in Sydney, recovering some of the losses Wednesday, when it fell after lowering its 2013 production target.
Coal miners and property developers also jumped in Hong Kong to pare the losses this week. China Coal Energy Co. jumped 5.4%, China Shenhua Energy Co. rose 5.5% and China Resources Land Ltd. gained 4.5%.
Over in Tokyo, many exporters dropped on a firmer yen. Nissan Motor Co. fell 1.4% and Canon Inc. declined 1%.
Bank of Japan Governor Haruhiko Kuroda said earlier in the day the local economy was improving and that consumer prices were expected to gradually rise as the effect of the central bank’s quantitative easing took hold.
CHINA
The Shanghai Shenzhen CSI 300 added 18.15 points, or 0.8%, to 2,221.98
Shares of large Chinese banks underperformed the broader market in Shanghai, following a media report that loans made by the country’s four largest banks dropped in June because of a recent liquidity crunch in the interbank money markets.
Industrial & Commercial Bank of China Ltd. fell 0.8% and Bank of China Ltd. dropped 0.4%.
In other markets;
Taiwan’s Taiex Index slid 17.70 points, or 0.2%, to 7,893.72
Singapore’s Straits Times Index recovered 17.63 points, or 0.6%, to 3,147.12
Korea’s Kospi Index increased 14.48 points, or 0.8%, to 1,839.14
In New Zealand, the Exchange 50 Gross Index took on 8.20 points, or 0.2%, to 4,458.95
In Australia, the S&P/ASX 200 grew 50.62 points, or 1.1%, to 4,794.74
