Hong Kong stocks extended gains Friday, as financial shares continued to advance after recent easing moves by China’s central bank.
The Nikkei 225 index stepped back 66.36 points, or 0.4%, from Thursday’s seven-year high to close a short week at 17,913.36. Markets in Japan were closed Wednesday for a public holiday.
Meanwhile, the yen rebounded against greenback to ¥118.94 from ¥120.31 at Tokyo stock close on Thursday.
In Hong Kong, the Hang Seng index ballooned 260.39 points, or 1.1%, to 24,682.54, marking its biggest rise in three weeks.
CHINA
The Shanghai CS300 index gained 26.95 points, or 0.8%, to 3,469.83
Mainland banks mostly gained, after the People’s Bank of China pumped another 160 billion yuan ($26 billion U.S.) into the banking system on Thursday.
That led to a net weekly injection of more than 200 billion yuan, the highest in more than a year. Bank of China Ltd rose 1.4%, Industrial and Commercial Bank of China Ltd. added 1.3%, and China Merchants Bank Co., Ltd moved up 1%.
Among other movers in the financial sector, Ping An Insurance Group Company of China., Ltd. rallied 3%, after reporting a 26% year-on-year jump in its premium revenues for last month. China Life Insurance Co. Ltd. also climbed 1.8% after its January premium revenues increased more than 6% from the same period a year ago.
Macau casino operator Sands China Ltd. spiked 3.2%, as its 2014 profit rose 15%, while rival Melco Crown Entertainment Ltd. gained 2.3%, despite a decline in its quarterly net profit.
In other markets;
The Kospi in Korea took on 15.87 points, or 0.8%, to 1,957.50
In Taiwan, the Taiex index hiked 33.20 points, or 0.4%, to 9,529.51
In Singapore, the Straits Times Index moved higher 7.05 points, or 0.2%, to 3,426.22
New Zealand’s NZX 50 index gained back 37.23 points, or 0.7%, to 5.786.54
The S&P/ASX index popped 133.90 points, or 2.3%, to 5,877.47
