Asia stocks were somewhat divided Thursday, after the Federal Reserve said interest rates will remain low for some time as U.S. growth rebounds, and Premier Li Keqiang pledged to meet China’s target for economic expansion.
Japan’s Nikkei 225 index rocketed 245.36 points, or 1.6%, to 15,361.16.
The Hang Seng Index in Hong Kong slid 13.99 points, or 0.1%, to 23,167.73.
BHP Billiton, the world’s largest miner, climbed 3.3% in Sydney as materials companies led gains. Seiko Epson Corp. surged 7.4% after
Citigroup Inc. said earnings at the Japanese printer maker are above market estimates.
China Overseas Land & Investment Ltd. lost 2.6% in Hong Kong as UBS AG said it expects more extensive property price cuts.
Wednesday, U.S. Fed Chair Janet Yellen said accommodative monetary policy, rising home and equity prices plus an improving global economy should produce an above-trend U.S. expansion.
Rio Tinto Group advanced 2.3% in Sydney. Nippon Steel & Sumitomo Metal Corp. gained 3.1%
Nippon Sheet Glass Co. surged 17%, the steepest gain since February 2013. Nomura Holdings Inc. raised its rating on the Japanese company to buy from neutral, citing expectations for greater improvement in the glass business over the next three years.
CHINA
The Shanghai CSI 300 fell 33.33 points, or 1.5%, to 2,126.91, amid concerns new share sales will divert funds and a property slowdown will hurt economic growth.
China will have "medium to high-level" growth in the long run, Premier Li said during a speech in London yesterday, adding that he could promise "honestly and solemnly there won’t be a hard landing."
In other markets;
In Korea, the Kospi index nicked up 2.54 points, or 0.1%, to 1,992.03
Singapore’s Straits Times Index dropped 7.78 points, or 0.2%, to 3,269.02
In Taiwan, the Taiex index gained 36.88 points, or 0.4%, to 9,316.81
In New Zealand, the NZX 50 recovered 7.69 points, or 0.2%, to 5,192.15
The Australian S&P/ASX 200 hiked 85.48 points, or 1.6%, to 5,468.20
