Japan stocks posted their biggest advance in a month on Thursday to reach a 15-year high, with several stocks gaining on reports about pay increases and generous bonus offers.
In Japan, the Nikkei 225 index ballooned 267.59 points, or 1.4%, to 18,911.11, its best closing level since April 2000.
Meanwhile, the yen recovered a little against the U.S. dollar after recent weakness. The dollar traded at ¥121.09, down modestly from ¥121.32 at the previous Tokyo stock close.
The Hang Seng Index finally broke its seven-session losing streak, adding 79.99 points, or 0.3%, to 23,797.96
Among market movers, car maker Nissan Motor Co., Ltd. jumped 2.8%, heavy industrial product manufacturer Fuji Heavy Industries Ltd. the maker of Subaru autos, climbed 1.6%, after a Nikkei report said the two companies have both decided to accept their trade unions’ bonus demands this year.
Major auto maker Toyota Motor Corp rose 1.2%, as various news reports said the company was also likely to agree to a basic pay raise in recent wage negotiations. Electronics maker Mitsubishi Electric Corp. added 1.4% after reports about possible pay increases.
However, South Korea’s Kospi Composite Index fell 0.5%, even as the Bank of Korea unexpectedly cut its base rate earlier in the day to a record low of 1.75%. Speaking at a press conference later, the head of the central bank pointed to recent data readings that signaled a sluggish economy.
In other markets
The Shanghai CSI 300 strengthened 68.19 points, or 1.9%, to 3,592.84
The Taiex index in Taiwan moved up 72.82 points, or 0.8%, to 9,596
In Singapore, the Straits Times Index dipped 4.99 points, or 0.2%, to 3,373.60
The Kospi index in Korea shed 10.24 points, or 0.5%, to 1,970.59
In New Zealand, the NZX 50 regained 24.80 points, or 0.4%, to 5,886.78
The S&P/ASX index recovered 56.97 points, or 1%, to 5,859.17
