Asian stocks rose, as earnings from Sony Corp. and Datang International Power Generation Co. and a commodities rally spurred confidence economies are recovering.
The Nikkei 225 index in Tokyo gained 191.62 points Friday, or 1.9%, to close the day, week and month at 10,356.83.
Still, reports today showed Japan’s jobless rate rose to a six-year high, and consumer prices fell by a record in June, raising concern any economic recovery will be muted. Nintendo Co. tumbled after falling console sales pushed profits lower, and Mazda Motor Corp. slumped after a third straight quarterly loss.
Sony, the maker of Vaio computers and PlayStation 3 game consoles, jumped 6.8% in Tokyo after cost cuts led to a smaller-than-expected loss. Datang, China’s number-two electricity producer, jumped 5.4% in Hong Kong after saying first half profit likely rose more than 50%.
Rio Tinto Group, the world’s third-largest mining company, rallied 4% in Sydney following a jump in prices of copper, nickel and oil.
In Hong Kong, the Hang Seng index added 339.25 points, or 1.7%, to 20,573,33. Sino Land Co., a Hong Kong property developer, climbed 5.1% after Morgan Stanley recommended buying the city’s developers.
Yamato Holdings Co., Japan’s largest parcel-delivery company, jumped 8%, the highest close in more than a year. The company lifted its full-year net income forecast by 6.8%. Rival Nippon Express Co., which reported earnings today, climbed 6.6%.
Taiwan Semiconductor Manufacturing Co. rose 5.2% in Taipei, the biggest gain in two months. The world’s largest custom-chip maker forecast sales and profitability that exceeded analysts’ estimates.
Kikkoman Corp. surged 7.1%, the highest since Oct. 22. First-quarter net income at Japan’s biggest soy-sauce maker rose 20% from a year earlier, the company said yesterday.
Industrial Bank of Korea, South Korea’s largest lender to small- and medium-sized companies, gained 4.4% after second-quarter profit exceeded analyst estimates.
BHP Billiton Ltd., the world’s largest mining company, advanced 1.9%. Woodside Petroleum Ltd., Australia’s second-largest oil producer, gained 2.7%.
Nintendo, the world’s biggest maker of handheld game players, slumped 4.6% after falling Wii and DS console sales caused net income to slide by more than half last quarter. UBS AG initiated a "short-term sell" recommendation on the company.
Mazda, Japan’s second-largest car exporter, sank 6.1%. The company had a loss of 21.5 billion yen ($264 million U.S.) last quarter as sales fell 45%.
Elsewhere:
Shanghai’s 300 Composite Index hiked 99.80 points, or 2.8%, to 3,734.62
Singapore’s Straits Times Index was 23.01 points, or 0.9%, higher, to close at 2,659.20.
South Korea’s Kospi index finished ahead 22.25 points, or 1.5%, to 1,557.29
Taiwan’s Taiex jumped 50.60 points, or 0.7%, to 7,077.71
New Zealand’s NZX 50 Index gained 22.20 points, or 0.7%, to 3,016.20
Australia’s S&P/ASX 200 added 53.60 points, or 1.3%, to 4,244.00
