Investors were in a buying mood to end the week in Asian. Markets were uniformly up Friday, as a weakened yen boosted exporters, while a 9% gain in Australia & New Zealand Banking Group helped Australian financial stocks.
Tokyo’s Nikkei 225 surged 74.04 points or 1.0%, to close out the week at 7,779.40.
Hong Kong’s Hang Seng Index leapt 326.37 or 2.5% to 13, 554.67.
Despite the day's solid gains, it was a mixed week for regional markets, with stocks in Shanghai, Sydney, Taipei making advances, while Tokyo, Hong Kong and Seoul shares lost ground on declines earlier in the week.
Still, the session witnessed some caution, as investors geared up for end-of-quarter redemption notices for hedge funds, and with the March fiscal year-end drawing closer in Japan.
Investors were reluctant to hold positions before a holiday in the U.S. markets on Monday, and were also awaiting end-of-quarter redemption notices for hedge funds.
Blue chips were higher in Tokyo with Canon Inc. ending up 1.7%, although Pioneer Corp. fell 20.2% after warning about a 130 billion yen ($1.44 billion U.S.) net loss for the year ending March 31, extending its streak of loss-making terms to five years.
Toyota Motor Corp. was little changed as plans to cut the work week at some plants in North America by 10% and offering optional buyouts to its workers provided no major surprise to the market.
Miners slipped in Australia after recent gains, with base metal prices falling in London and the Baltic Dry Index - a key measure of demand in the shipping sector - down 3.2%, its first decline since January 19.
Banks gained on ANZ's surge, which came after it said it had no plans to raise capital. Westpac Banking Corp. added 1.8% and Commonwealth Bank of Australia 1.5%, with Macquarie Group 2.9% higher.
HSBC Holdings helped lift the market in Hong Kong, as the market heavyweight jumped 4.3%.
Taiwan technology shares were on the rise with MediaTek Inc. up 6.8% and Hon Hai Precision Industry Co. up 2.6%, while Taiwan Semiconductor Manufacturing Co. added 1.3%.
CHINA
Chinese shares in Shanghai and Hong Kong jumped on speculation Beijing may announce more stimulus measures for specific industries to support the country's economy.
There was also some selling after confirmation of the deal between Rio Tinto and Aluminum Corp. of China, talk of which had supported the sector of late. Rio Tinto ended down 1.9%.
Elsewhere:
China’s Shanghai Composite Index increased 80.72 points, or 3.5% to 2,339.06
Singapore’s Straits Times Index added 20.68 points, or 1.2%, to 1,705.64
Taiwan’s Taiex Index rallied 126.08 points or 2.8%, to 4,592.50
South Korea’s Kospi picked up 12.60 points or 0.9% to 1,192.44
New Zealand’s NZX 50 Index gained only fractions of a point to 2,750.77
Australia’s S&P/ASX 200 Index also advanced, by 44.80 points or 1.3% to 3,559.10
