Hong Kong — Asian markets mostly rose on
Thursday, with support coming from another positive lead from Wall
Street and news that Chinese manufacturing activity had hit a two-year
high in January.
However, regional tech firms
were weighed by disappointing earnings from Apple, and Tokyo and Seoul
were dented by more downbeat economic data.
Tokyo rose 0.36 percent by the break, Hong Kong added 0.15 percent,
Shanghai surged 1.01 percent and Sydney climbed 0.40 percent, while
Seoul was flat.
In China HSBC said its
preliminary purchasing managers index (PMI) rose to 51.9 in January from
51.5 in December, a 24-month high.
Anything above 50 indicates growth while anything below is contraction.
The news reinforces views that the world's number two economy has
picked up after a drawn-out slumber. On Friday official figures showed
it grew at a faster pace than expected in 2012 and at a quicker pace
than the government had hoped.
The results
provided a fillip to Japan's Nikkei, although the market continues to be
weighed by a stronger yen as well as data showing the country logged a
second consecutive annual trade deficit last year.
However, Thursday saw an easing of the yen's recent rally that was
sparked by disappointment that the Bank of Japan's unveiling of a two
percent inflation target and indefinite monetary easing did not go far
enough.
In early currency deals, the greenback
bought ¥88.84 , compared with ¥88.56 in New York late Wednesday. The
dollar had surged to a two-and-a-half-year high ¥90.24 before the BoJ
move.
The euro slipped to ¥118.36 from ¥118.00, and to $1.3321 from $1.3315.
The three main indexes on Wall Street ended higher after a string of upbeat earnings from firms including IBM and Google.
The Dow ended up 0.49 percent, at its highest level since October 2007,
while the S&P 500 advanced 0.15 percent and the Nasdaq climbed 0.33
percent.
However, after US markets closed Apple
released flat October-December first quarter earnings and sales of key
products such as the iPhone 5 came in below expectations.
Recently, the iPhone 5 made a lackluster debut in China and an analyst reported that Apple had cut orders for smartphone parts.
Wednesday's results sent shares in the computer giant slumping more
than 10 percent in after-hours trade, which had a knock-on effect for
Asian firms linked to it.
Supplier LG Display
fell 2.4 percent in Seoul, while in Tokyo TDK lost 1.4 percent and
telecoms firm Softbank, which sells the iPhone, dropped 1.5 percent.
South Korean shares were also hurt by data showing the economy grew 2.0
percent in 2012, its slowest pace in three years, owing to overseas
turmoil and soft demand at home.
Oil prices were
mixed. New York's main contract, light sweet crude for delivery in
March gained four cents to $95.27 a barrel, while Brent North Sea crude
for March delivery dropped 39 cents to $112.41.
Gold was at $1,683.58 at 0240 GMT compared with $1,691.66 late Wednesday. —Agence France-Presse
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