Asian shares were largely higher on Friday as investors continued to hope the US Federal Reserve would delay its decision to raise its rates.
Advertisement
The Topix real estate subindex added 3.5 percent during midmorning trade. The sub-index rose 1.4 percent from the get-go.
Malaysia’s FTSE Bursa Malaysia KLCI added 0.3 percent ahead of the announcement of September inflation numbers at noon. However, the miner’s shares are down 0.2%.
Also helping the market was expectations that the Bank of Japan would offer fresh stimulus following its October 30 policy meeting. In early morning trades, the local unit was trading at USD0.7327, up from Thursday’s close of USD0.7319. Additionally, a weaker yen boosted exporters’ stocks.
ASIA’S DAY: Japan’s benchmark Nikkei 225 added 1.1 percent to 18,291.80. Meanwhile, Hong Kong’s Hang Seng index charged up 1.2 percent at the start of trade.
In the banking space, Mitsubishi UFJ Financial (MTU) is advancing nearly 2 percent, Mizuho Financial Group (MFG) is gaining more than 2 percent and Sumitomo Mitsui Financial is up 1.7 percent.
Blue-chip exporters such as Sony and Canon climbed 2.6 and 1.9 percent respectively, while automakers Toyota, Nissan and Suzuki Motoralso attracted buy orders, up almost 2 percent each.
Among the other major gainers, Kyowa Hakko Kirin is rising more than 3% and Screen Holdings is up 2%.
Suntory Beverage & Food will unwind its joint venture with Tsingtao Brewery amid stalling sales in the fiercely-competed Chinese market, the Nikkei business daily reported. Shares of the company are gaining 1.7%.
The greenback bought 118.96 yen in Tokyo, after touching 119.25 yen during early exchanges, against 118.88 yen Thursday in New York. Bucking the trend, South Korea is marginally lower.
Chemical maker Nippon Shokubai Co jumped 4.6 per cent after a report first-half operating profit may rise by 56 per cent.
Advertisement
Japanese traders were given a positive lead from Wall Street, where the Dow rose 1.28 percent, the S&P 500 gained 1.49 percent and the Nasdaq jumped 1.82 percent.
