Chinese stocks climbed Friday after data showing consumer prices in the country rose at a slower-than-expected rate in July, while Japanese shares inched up on buying in some beaten-down issues.
Japan’s Nikkei 225 gained 9.63 points, or 0.1%, to cap a bumpy week at 13,615.19
Hong Kong’s Hang Seng Index added 151.68 points, or 0.7%, to 21,807.56
Most of the major regional markets ended the week deep in the red. Japan’s Nikkei tumbled 5.9% during the week, while the Australian and Hong Kong benchmarks lost between 1% and 2%. China’s Shanghai Composite defied the trend, gaining 1.1% during the week.
Coal miners jumped in Hong Kong amid expectations for rising prices, with China Coal Energy Co. soaring 10.3% and China Shenhua Energy Co. climbing 6.1%.
Kunlun Energy Co. added 3.6%, helped by Citigroup’s upgrade of the stock’s rating to buy.
In Tokyo on Friday, shares of Mitsubishi Material Corp. climbed 9.6% after its results Thursday.
Adding to the gains, Softbank Corp. gained 1.1%, and Trend Micro Inc. added 2.2% to recover some recent losses.
On the downside, Nikon Corp. plunged 14.3% after its weak fiscal first-quarter results.
In Sydney, diversified miner BHP Billiton Ltd. gained 1.8%, and rival Rio Tinto Ltd. added 1.3%, while gold company Newcrest Mining Ltd. leapt 2.3%.
But losses in the financial and retail sectors weighed on the market, with Australia & New Zealand Banking Group losing 0.5%, and Wesfarmers Ltd. shedding 0.6%.
CHINA
The Shanghai Shenzhen CSI 300 recovered 9.23 points, or 0.4%, to 2,286.01
Official data released Friday showed July consumer prices in China rose 2.7%, matching the rate in June but slightly weaker than expectations. Producer prices dropped 2.3%, after witnessing a 2.7% slide in June. July industrial production accelerated to grow 9.7% from a year-earlier, compared with 8.9% in June.
In Shanghai, China Shenhua Energy Co. rose 0.3% and Datong Coal Industry Co. added 1.4%.
In other markets;
Singapore markets had the day off
Taiwan’s Taiex slid 51.53 points, or 0.7%, to 7,856.14
Korea’s Kospi Index moved lower 3.26 points, or 0.2%, to 1,880.71
In New Zealand, the Exchange 50 Gross Index skidded 7.74 points, or 0.2%, to 4,533.64
In Australia, the S&P/ASX 200 dropped 9.59 points, or 0.2%, to 5,055.21
