Asian stock markets were mostly higher Friday, as a rise in crude-oil prices boosted energy stocks, while higher base metal and gold prices helped commodity shares.
Japan's Nikkei 225 index sprang ahead 81.31 points, or 0.8%, to 9,877.39. The Tokyo gained 0.9% for the week, 3.7% for the month so far.
In Hong Kong, the Hang Seng Index picked up another 325.23 points, or 1.8% to 18,600.26. Hong Kong was up 3.8% on the week, but is behind 1.6% on the month so far.
Tokyo markets had a muted reaction to government data showing the core consumer price index fell at its fastest pace on record in May, down 1.1% on the year, as the drop was in line with forecasts. But the core figure for June for the Tokyo metropolitan area, considered a leading indicator for the nationwide figure, was down 1.3%, deeper than the 1.1% fall expected.
Suzuki Motor Corp. added 5.5% in Tokyo after the Manager Magazine reported Volkswagen was considering taking a stake of around 10%. Bridgestone Corp. shares tacked on 8.5% after it said Thursday it expected to break even on a net basis this year after posting a 10.41-billion-yen ($108 million U.S.) profit last year. Some analysts had been expecting a loss.
Tokyo-listed shares of Citigroup Inc. slipped 2.3% after reports the country's Financial Services Agency would sanction the bank's Japanese unit for overly lax money laundering controls. After the market closed, the regulator ordered the bank to suspend some operations.
Japan's Nippon Oil Corp. was up 3.1% and Inpex Corp. was up 1.8%.
In Australia, Alumina Ltd. ended up 8.7%, Macarthur Coal Ltd. added 1.6%, Origin Energy Ltd. rose 0.8% and Woodside Petroleum Ltd. closed 2% higher. But Rio Tinto Ltd. was down 1.5%.
Qantas Airways Ltd. gained 1.8% in Sydney after it said it had deferred delivery of some Boeing 787 aircraft and canceled orders for others, reflecting a dramatic downturn in the industry since the orders were placed.
Taiwan bank stocks were still supported by hopes for a near-term signing of a financial memorandum of understanding with China.
Property plays continued their recent gains on expectations a low interest rate environment would last at least until the end of the year. Sun Hung Kai Properties rose 3% in Hong Kong.
New Zealand's first-quarter gross domestic product contracted 1.0%, more than the 0.7% forecast in a Dow Jones Newswires poll of economists. The data weighed on the New Zealand dollar. It was trading at $0.6425 U.S., from $0.6470 U.S. before the data came out.
In currency markets, the U.S. dollar bought 95.88 Japanese yen, up slightly from 95.86 yen in late North American trading Thursday. The euro was at $1.4048 U.S., up from $1.3988 U.S. late Thursday. Traders said a large British bank had bought the euro on behalf of an Asian central bank.
Spot gold was up $6.10 from New York, at $945.00 U.S. a troy ounce. Front-month Nymex crude-oil futures were 72 cents higher at $70.95 U.S. a barrel on Globex, adding to a $1.45 or 2.3% gain made in New York
CHINA
Bank stocks were leading in China after the state-run China Securities Journal reported new yuan loans would likely exceed CNY1 trillion ($146 billion U.S.) in June. Industrial and Commercial Bank of China gained 2.1% while Bank of China climbed 2%.
Elsewhere:
China’s Shanghai Composite Index ended the week on a winning note, advancing 10.50 points, 0.3% to 3,128.42
Singapore’s Straits Times Index progressed 15.49 points, or 0.7%, to 2,317.95
South Korea’s Kospi index edged higher 1.80 points, or 0.1%, to 1,394.53
Taiwan’s Taiex inched ahead 5.95 points, or 0.1%, to 6,463.56
New Zealand’s NZX 50 Index gave back 0.04 points to 2,770.62
Australia’s S&P/ASX 200 tacked on 47.80 points, or 1.2%, to 3,903.80
