Asian equities bounced back in afternoon trade after having a mixed but volatile reaction to a slew of key Chinese data, even though the numbers were mostly in line with expectations.
In Japan, the Nikkei 225 regained 92.8 points, or 0.6%, to 17,048.37.
The Hang Seng index in Hong Kong recouped 398.36 points, or 2.1%, to 19,635.81
The U.S. dollar-yen pair traded 0.2% higher at 117.73 from the previous session's close of 117.31. This likely helped boost some major export stocks such Nissan, Sharp, Toyota and Sony, which all closed higher, some as much as 2.4%. A weaker yen is usually considered positive for Japan's exporters as it flatters earnings when translated back into the home currency.
Korean blue-chips finished mixed, with shares of Samsung Electronics up 4%, Posco up 0.3% and Hyundai Motor up by 0.7%
In Australia, resources stocks were resilient, with Rio Tinto finishing up 0.3%, after being down as much as 0.6% in early trade, and BHP Billiton closing up 0.7%. Other iron ore producers such as Fortescue pared gains to close down 1.6%.
Rio Tinto said it planned to increase iron ore production and shipments in 2016, despite multi-year-low iron-ore prices. The mining giant increased 2015 annual iron ore shipments by 11%, roughly in line with its guidance of 340 million tonnes. Iron ore traded at $41.90 U.S. a ton.
In Japan, oil stocks closed mostly up with Inpex and Japan Petroleum each up 1.2% . Cosmo Oil, however, was down 1.2%. Reports said the oil company purchased a U.S. crude oil cargo, about 300,000 barrels, making it the first purchase by a Japanese buyer since a four-decade ban on most U.S. crude exports ended.
South Korean energy stocks such as S-Oil, SK Innovation and GS Holdings were down as much as 1.9%
Hong Kong listed shares of CNOOC, PetroChina, and Sinopec closed up as much as 4.9%.
CHINA
The CSI 300 Index gained 92.4 points, or 3%, to 3,223.13.
China's gross domestic product data for 2015 was in line with a Reuters poll of expectations, though factory output and retail sales dipped slightly below forecasts.
The world's second-largest economy grew by 6.8% in the fourth quarter of 2014, slipping by 0.1% from the third quarter's 6.9% growth, in line with the median forecast by economists.
Full-year growth came in at 6.9% down from last year's 7.3%, and the slowest pace of economic expansion since 1990.
Industrial output for December rose 5.9% on-year, missing a Reuters poll forecast for a 6% increase. Full-year industrial output rose 6.1% on-year.
Retail sales also fell slightly short of expectations for December, climbing 11.1% on-year, compared with a forecast for 11.3% and slightly weaker than November's 11.2% rise.
Oil plays in mainland China, such as China Petroleum, PetroChina, and China Oilfield ended up as much as 3.2%..
In other markets
In Singapore, the Straits Times Index regained 45.47 points, or 1.8%, to 2,638.47
The Kospi in Korea moved forward 11.19 points, or 0.6%, to 1,889.64
Taiwan’s Taiex index gained 43.7 points, or 0.6%, to 7,854.88
In New Zealand, the NZX 50 recovered 22.76 points, or 0.4%, to 6,124.20
The ASX 200 picked up 44.37 points, or 0.9%, to 4,903.07
