Most major Asian markets ended higher Friday with Shanghai surging as trading resumed after a string of holidays, while Japanese shares rallied on the back of a modest pullback in the yen.
In Tokyo, the Nikkei 225 gained 183.92 points, or 1.9%, to 10,016.39, reclaiming ground above the psychologically-important 10,000-point mark.
In Hong Kong, the Hang Seng index crept up another 6.54 points to 21,499.44. In Hong Kong, shares of Aluminum Corp. of China rose 0.2% and Jiangxi Copper fell 1.2%.
The earnings season and stocks' rapid gains were causes for concern, despite the gains in U.S. and European markets, analysts said.
Metals and mining stocks across the region were broadly higher after the recent rally in base metals prices. OZ Minerals gained 1.6% and Newcrest Mining climbed 1.6% in Sydney, with Bumi Resources up 6.4% in Jakarta, Pacific Metals up 3.1% in Tokyo and Korea Zinc rising 5.1% in Seoul.
South Korean shares were stronger in moderate volume after the Bank of Korea left its key interest rate unchanged at 2%.
Shares of Samsung Electronics jumped 4.9% after falling in the previous five sessions, with Hyundai Motor jumping 5.4%, Shinhan Financial Group gaining 4.2% and Hynix Semiconductor rising 1.8%.
In Hong Kong, shares of debutant Wynn Macau ended at 10.78 Hong Kong dollars ($1.38 U.S.) compared with its initial public offering at HK$10.08 in heavy trading volumes.
In Tokyo, shares of Promise jumped 13% after announcing plans to promote company vice president Ken Kubo to president.
Oil plays were buoyant after crude oil futures jumped $2.12 on Thursday on a weakened U.S. dollar and expectations for strong oil demand. Crude oil futures for November were recently down 27 cents at $71.42 U.S. per barrel on Globex. Shares of Inpex were up 1.1% higher while Cnooc climbed 2.2%.
CHINA
China shares surged higher after the week-long National Day and mid-autumn festival holidays, with the Shanghai’s 300 Composite Index surging 158.90, or 5.3%, to 3,163.71.
The advance came after the Shanghai benchmark fell in five of the previous six sessions.
Shares of Zhongjin Gold, Shandong Gold-Mining, Jiangxi Copper, Yunnan Copper, Aluminum Corp. of China and Tongling Nonferrous Metals Group all jumped by their daily 10% limit during the session.
Elsewhere:
Taiwan’s Taiex index regained 68.65 points, or 0.9%, to 7,571.96
Singapore’s Straits Times index picked up 1.56 points to 2,652.51
Korea’s Kospi index advanced 31.33 points, or 1.9%, to 1,646.79
New Zealand’s NZX 50 Index slid 5.68 points, or 0.2%, to 3,163.25
Australia’s S&P/ASX 200 finished 15.70 points, or 0.3%, lower at 4,752.90.
