Asian equity markets finished on a buoyant note Friday, with some regional indexes ending at their highest levels in several months as stronger metal and oil prices boosted resource stocks.
The advance came after a tentative start, with Japanese and South Korean shares flirting with losses in early trading. Better-than-expected economic data supported gains in Tokyo.
Japan's Nikkei 225 Average ended up 71.11 points, or 0.8% at 9,522.50, its highest level since October, while Hong Kong's Hang Seng Index reclaimed the 18,000-point level for the first time since October, ending 285.73 points, or 1.6%, higher at 18171.
Sentiment in Japan was supported by data showing industrial output rose 5.2% month-to-month in April, higher than economists had expected.
Shipping, real estate and steel stocks paced the advance. Nippon Yusen jumped 5.3%, Mitsui Fudosan surged 7% and Nippon Steel gained 2%.
But there was selling in banking and retail shares after April data also showed a rising jobless rate and tepid household spending, with Sumitomo Mitsui Financial Group down 1.3% and Seven & I Holdings off 1.7%.
Markets in China and Taiwan were closed for a holiday.
Commodity stocks were higher across the region amid the dollar's recent weakness against major currencies, with BHP Billiton and Newcrest Mining up 1.9% each in Sydney, and Inpex gaining 6.3% in Tokyo. Cnooc climbed 4.2% and Zijin Mining Group jumped 4.9% in Hong Kong.
At the end of a volatile session in Seoul, KB Financial Group ended down 3.9% and Samsung Electronics slipped 0.2%.
Hyundai Steel fell 2.6% on reports the company had announced a reduction of up to 20% in product prices, but Hyundai gained 2.2% on expectations that its global market share might rise if General Motors were to file for bankruptcy protection.
Sentiment in New Zealand was still helped by Fisher & Paykel Appliances Holdings' plan to raise funds by selling a 20% stake to China's Haier Group, with the stock ending up 3.8%.
In currency markets, the euro recently jumped to $1.4007 U.S., from $1.3945 late in New York. Concerns about the U.S.'s sovereign rating and the demand picture for U.S. Treasurys were starting to fade, but ANZ bank senior dealer Alex Sinton said the market was "still looking for a move higher in the euro on the back of U.S. dollar weakness."
The euro was also fetching 135.04 yen, from 135.19 yen. The U.S. dollar was, meanwhile, buying 96.35 yen, from 96.96 yen.
Spot gold was recently $9.40 higher from New York levels, at $968.40 U.S. a troy ounce. Front-month Nymex crude oil futures reversed early declines, and were recently up 32 cents on Globex at $65.40 U.S. a barrel. The contract had risen 2.6% in New York after a surprisingly large drop in weekly U.S. energy inventories.
Elsewhere:
Singapore’s Straits Times Index went higher by 36.11 points, or 1.6% to 2,329.08
South Korea’s Kospi index gained 3.72 points, or 0.3% to 1,395.89
New Zealand’s NZX 50 Index recovered 42.20, or 1.6%, to 2,764.17
Australia’s S&P/ASX 200 tacked on 62.40 points, or 1.7% to 3,818.10
