Markets in Asia followed on gains for the week despite a fairly humdrum session on Friday that saw major indexes waver between positive and negative territory. Asian currencies, including the yuan, strengthened against the dollar.
The Nikkei 225 gained 54.62 points, or 0.3%, to 17,014.78. For the week, the benchmark index gained 5.1% as it returned to above the 17,000-level.
In Hong Kong, the Hang Seng index leaped 234.94 points, or 0.3%, to 19.941.76
Despite the weekly gains, one strategist said in an afternoon note that there is an air of fatigue from the bulls in several developed equity markets even as they continue to grind higher.
The Bank of Japan meets next week, which could also be factoring into investors’ minds.
In Japan, the U.S. dollar/yen pair moved back to the 113 level overnight after climbing over 114 Thursday. The pair traded flat at 113.75 on Friday afternoon local time.
Japanese export stocks finished mostly higher after the dollar/yen pair came off a session low of 113.23, with shares of Toyota up 0.8%,
Nissan higher by 0.9% and Honda adding 0.4%. A stronger yen is usually a negative for exporters as it reduces their overseas profits when converted to local currency.
Down Under, the Australian dollar also gained against the U.S. dollar, with the pair trading up 0.2% at 0.7364.
Australian miners were the big winners on Friday, with Rio Tinto finishing up 1.6%, Fortescue up 3.8%and BHP Billiton gaining 2.4%. Gold miners also finished up, with Newcrest adding 0.5% and Alacer Gold gaining 1.5%
Data released by the Australian Bureau of Statistics showed the country's retail sales for January was up 0.3% on-month, slightly off a poll that predicted a 0.4% increase. Retailers finished the Friday session mixed, with major supplier Metcash down 5.3%, while supermarket chain Woolworths rose 1.1%
CHINA
The Shanghai CSI 300 index added 35.47 points, or 1.2%, to 3,093.89
Mainland Chinese oil plays were mixed, with Sinopec down 3.9% and China Petroleum up by 2.9%
Other important events that could likely provide cues for markets in the coming days include China's National People's Congress, which begins this weekend
In other markets;
In Korea, the Kospi index dipped 2.54 points, or 0.1%, to 1,955.63
In Taiwan, the Taiex Index moved higher 31.76 points, or 0.4%, to 8,643.55
In Singapore, the Straits Times Index jumped 49.38 points, or 1.8%, to 2,837
The NZX 50 in New Zealand climbed 37.27 points, or 0.6%, to 6,418.13.
In Australia, the ASX 200 gained 8.9 points, or 0.2%, to 5,090.02
