Japanese shares led a rally across Asia on Thursday as expectations of further monetary-easing measures weakened the yen and bolstered electronics and automobile exporters.
Japan’s Nikkei 225 Index gained 122.14 points, or 1.3%, to close Thursday at 9.362.68, after the Sankei Shimbun newspaper reported that the Bank of Japan will consider additional policy-easing steps to cope with a rising yen and falling share prices
Hong Kong’s Hang Seng Index rebounded 49.73 points, or 0.2%, to 21,072.46
Concerns about slowing profit growth at China Mobile dragged down the stock and narrowed the advance in Hong Kong.
Anxiety over BHP Billiton's $38.6-billion U.S. hostile takeover bid for Potash Corp. of Saskatchewan Inc. capped gains in Sydney.
The yen depreciated on expectations of BOJ action, helping exporters rebound. Toshiba climbed 2.4% and Tokyo Electron jumped 5.3%, with Toyota Motor rising 1.8% and Nissan Motor adding 3.1% among auto makers.
Real-estate stocks also got a lift from expectations the government may extend its stimulus package, including low-interest housing loans. Mitsubishi Estate added 3.4% and Mitsui Fudosan tacked on 3.1%.
BHP Billiton fell 0.3%, continuing to hold the market back on uncertainty over its hostile takeover attempt, which Potash's board rejected as too low.
Earnings reports influenced many individual stocks. AMP dropped 4.3% after missing first-half earnings expectations and Downer EDI skidded 6.8% after the company said this financial year may be subdued due to difficult trading conditions.
Brambles climbed 4% after its fiscal-year profit beat expectations.
Shares of China Mobile dropped 3% in Hong Kong, dropping for the first time in four sessions, after the mobile services giant reported 4.2% growth in first-half net profit from the year-earlier period as average revenues per user continued to slip amid intense competition.
Shares of Lenovo Group fell 0.8% after the computer maker said it expected gross margins would remain under pressure in the short-term.
China Merchants Bank gained 2.2% after posting a 60% on-year rise in first-half net profit. Citigroup cited continued concerns the bank may need to raise further capital.
In foreign-exchange markets, the U.S. dollar was buying ¥85.77 from ¥85.43 in New York late Wednesday. The euro was fetching $1.2793 U.S. from $1.2860 U.S., and ¥109.71 from ¥109.87.
Elsewhere;
Shanghai’s CSI 300 Index increased 18.03 points, or 0.6%, to 2,955.40
Singapore’s Straits Times Index tacked on 27.40 points or 0.9%, to 2,946.77
Korea’s Kospi index gathered 17.65 points, or 1%, to 1,779.64
Taiwan’s Taiex Index added 4.84 points, or 0.06%, to 7,928.94
New Zealand’s NZX index picked up 11.60 points, or 0.4%, to 3,029.79
Australia’s S&P/ASX 200 moved ahead 4.10 points, or 0.1%, to 4,479
