Asian markets ended higher Thursday, with Hong Kong and Chinese stocks rising after data showed a moderation in the mainland's consumer price inflation, while Australian shares received a boost from a solid jobs report.
Markets in Japan and Taiwan were shut for a public holiday.
Hong Kong’s Hang Seng Index gained back 131.94 points, or 0.7%, to 19,922.22.
Trading activity was thin in some markets as a holiday mood set in ahead of the Lunar New Year and many investors were closely watching for signs the European Union would move to address Greek debt troubles.
The Australian market received a boost from a very strong jobs report, with Commonwealth Bank of Australia gaining 2.3%, QBE Insurance Group adding 2.4% and Qantas Airways advancing 1.4%.
The Australian economy added 52,700 jobs in January, beating expectations for an increase of 15,000 jobs, while the unemployment rate came in at 5.3%, compared with the 5.6% rate expected.
Telstra bucked the trend after the country's biggest phone company by subscribers reported lower-than-expected first-half net profit of 1.85 billion Australian dollars ($1.65 billion U.S.) and cut its revenue guidance for the fiscal year.
In South Korea, financial stocks, steel makers and ship builders were driving strong gains after the Bank of Korea left its benchmark interest rate unchanged at an all-time low of 2.00%, as widely expected.
BOK Governor Lee Seongtae said the central bank will "cautiously" maintain its easy monetary policy stance, but added that it continues to see the need to "normalize" its policy rate.
KB Financial Group advanced 4.4%, with Woori Finance Holdings adding 2.2% despite poor fourth-quarter results. Posco rose 1.5% and Hyundai Motor climbed 1.8%.
In foreign exchange markets, the euro appreciated as players awaited European developments. One expert said that the euro could rebound further if a bailout for Greece is confirmed, possibly back to mid-January levels of around $1.45 U.S. The single currency was at $1.3764 U.S. from $1.3734 U.S. in late New York trade Wednesday, and at 123.82 yen from 123.56 yen.
CHINA
Chinese stocks were broadly higher, as the Shanghai 300 Composite Index gained 27.69 points, or 1.8%, to 3,220.40
Bank of Communications gained 3.8%, PetroChina Co. added 2% and Maanshan Iron & Steel Co. jumped 4.7% in Hong Kong; in Shanghai, Poly Real Estate Group Co. added 1.6% and Maanshan rose 1.9%, while SAIC Motor advanced 2.1%.
Data released earlier in the day showed China's consumer price index rose 1.5% in January from a year earlier, but the rate slowed down from December's 1.9% increase.
Elsewhere:
Korea’s Kospi Index was 27.69 points, 1.8%, higher to 1,597.81
Singapore’s Straits Times index gained 19.24 points, or 0.7%, to 2,753.63
New Zealand’s NZX Index surrendered 20.23 points, or 0.7%, to 3,065.28
Australia’s S&P/ASX 200 gained 40.90 points, or 0.0%, to 4,554.30
