Asian stocks chalked up strong gains Friday after an overnight rally on Wall Street, with Hong Kong again reaching record highs.
In Tokyo, the Nikkei 225 index surged 1.94 percent, to 16,127.42 points while in Hong Kong, the blue chip Hang Seng Index rose 1.5 percent to 24,898.11.
Shares of Sumitomo Metal Mining soared 6.8%. The company increased its half-yearly net profit and revenue forecasts on higher copper and metal prices at the end of Thursday's closing.
Other nonferrous metals shares also got a boost, with Kubota Corp. adding 2.5% and Mitsui Mining & Smelting Co. rising 2.3%.
Shares of Matsushita Electric Industrial Co. climbed 3.9%, gaining on reports the company plans to double plasma display-panel output at a Japanese plant.
And among export-oriented shares, Canon advanced 2.7% and Toyota Motor Corp. gained 2.4% as Japan's yen traded weaker against other currencies.
ELSEWHERE:
BANGKOK: The benchmark SET Index rose 0.6 percent to 811.95 as energy blue chips gained on elevated oil prices. PTT and Rayong Refinery each rose 1.3 percent.
JAKARTA: Indonesia's benchmark JSX index rose 0.1 percent to 2,225.607 amid mixed market sentiment. Telkom fell 1.4 percent while Astra Agro added 3 percent. Some commodity issues attracted bids, traders said.
KUALA LUMPUR: Malaysia's main index rose 0.4 percent to 1,289.50 in thin volume, off intraday high of 1,294.68 as pre-weekend profit taking dragged most stocks off their highs.
MANILA: The 30-company Philippine Stock Exchange Index gained 0.2 percent, to 3,294.55. Philippine Long Distance Telephone Co. gained 0.6 percent while Manila Electric Co. surged 3.3 percent.
MUMBAI: India's benchmark SENSEX lost 0.07 percent to 15,603.80.
SEOUL: A strong rebound in shipbuilding sector shares and retail giant Lotte Shopping drove South Korean shares to another higher close. The Korea Composite Stock Price Index, or Kospi, rose 1.2 percent, to 1,870.02, finishing the week 0.8 percent lower overall. Lotte Shopping rose 5.3 percent.
SINGAPORE: The benchmark Straits Times Index added 0.9 percent to 3,536.40. Property stocks led gains, as analysts said the sector's fundamentals remain strong despite a potential slowdown for the rest of the year.
TAIPEI: Taiwan's main index rose 1.2 percent to 9,031.63, with trading volume remaining thin. Cathay Financial Holding rose 3.1 percent and Chunghwa Telecom added 0.7 percent.
WELLINGTON: The benchmark NZX-50 index rose 0.5 percent to 4,161, assisted by Wall Street's improved performance overnight, and gains in Asian markets.
SYDNEY: A surge in Macquarie Bank, combined with strong offshore markets and signs of improvement in the global credit crunch pushed Australian shares higher. The benchmark S&P/ASX 200 rose 1.2 percent to 6,306.8.
with files from other wire services
