Asian markets mostly rose on Thursday, while the dollar climbed against the yen after Japan’s parliament agreed the government’s nominees to lead the Bank of Japan.
Traders seemed broadly unimpressed by another record for the Dow on Wall Street that was fuelled by upbeat economic data, while better-than-expected Australian jobs numbers were not enough to keep Sydney shares positive.
Tokyo rose 1.16 percent, adding 141.53 points to hit a four-and-a-half year high of 12,381.19,
Tokyo won support over hopes of further monetary easing steps, as a new Bank of Japan leadership team was approved by the lower house.
Proposed BoJ Governor Haruhiko Kuroda, a finance veteran who has announced his resignation as head of the Asian Development Bank, and his two deputies are widely expected to win upper house confirmation on Friday.
“Confirmation of all of the government’s BoJ nominees will send a positive signal that looser central bank policy monetary policy will be a certainty,” said SMBC Nikko Securities general manager of equities Hiroichi Nishi.
“The overall environment for equities investing remains bullish.”
Sony gained 0.20 percent to 1,503 yen, Canon rose 0.57 percent at 3,470 yen and Toyota advanced 0.81 percent at 4,950 yen, while clothing store giant Fast Retailing rose 2.53 percent to 30,300 yen.
Japan Tobacco shares slipped 2.34 percent to 3,130 yen as the company wraps up a partial sale of the government’s stake in the former monopoly, which was expected to raise about $7.8 billion.
The Seoul index gained 0.12 percent, or 2.40 points, to 2,002.13, but Sydney lost 1.18 percent, or 60.2 points, to end at 5,032.2.
In the afternoon Hong Kong added 0.27 percent, or 62.53 points, to 22,619.18 while Shanghai closed up 0.28 percent, or 6.31 points, to 2,270.28.
Oil prices eased, with New York’s main contract, light sweet crude for delivery in April, rising 35 cents to $92.87 a barrel a barrel and Brent North Sea crude for April delivery shedding 15 cents to $108.37.
Gold was at $1,588.44 an ounce at 0810 GMT compared with $1,592.78 late Wednesday.
In other markets:
– Wellington rose 0.92 percent, or 39.95 points, to 4,381.10.
Fisher & Paykel Healthcare was 3.4 percent higher at NZ$2.71, while Fletcher Building added 2.4 percent to NZ$9.15.
– Manila closed 1.21 percent lower, shedding 81.85 points to 6,694.71.
Ayala Corp. fell 1.61 percent to 550 pesos, SM Investments dropped 2.09 percent to 1,075 pesos and Philippine Long Distance Telephone was off 3.64 percent at 2,860 pesos.
– Taipei fell 0.55 percent, or 43.75 points, to 7,951.76.
Leading integrated circuit chip design house MediaTek shed 2.7 percent to Tw$343.0 while Taiwan Semiconductor Manufacturing Co was 0.48 percent lower at Tw$104.0.
Asian markets mostly rise as yen weakens
