Bloomberg News
Asian stock markets largely extended their gains in early Friday trading, as Thursday’s global rebound continued.
Japan’s Nikkei NIK, +2.14% was faring the best, up 1.3%, handily pushing back above its 200-day moving average, as the yen hit fresh six-month lows against the dollar USDJPY, +0.11% . Gains were being led by defensive names, such as beverage maker Yakult Honsha 2267, +4.51% , up 4.3%. Uniqlo parent Fast Retailing 9983, +7.74% surged more than 6% after posting positive earnings. But factory-automation stocks eased, highlighted by Yaskawa Electric 6506, -2.59% giving up an early 3.7% gain following strong quarterly results to trade 4% lower.
Hong Kong stocks HSI, +0.58% also extended Thursday’s gains, with the benchmark up 0.6% early on. Tech was continuing to rebound, with Sunny Optical 2382, +2.44% climbing a further 3% and index heavyweight Tencent 0700, +0.63% advancing 1%. Financials were also higher, with Ping An Insurance 2318, +0.63% and China Construction Bank 0939, +0.43% also rising nearly 1%.
One exception was Australia, where early gains for the S&P/ASX 200 XJO, -0.04% didn’t last as financials then slid 0.7% following their rebound of the past month-plus. The only other benchmark lower was the Shanghai Composite SHCOMP, -0.12% , down 0.4% after two days of gains topping 2%. Still, the index is about to have its first winning week in two months, snapping its longest skid in 6½ years.
South Korea’s Kospi SEU, +1.01% rose, led by tech and automaker stocks. Samsung 005930, +1.43% was up 1% and Hyundai 005380, +0.41% was up 0.4%. Markets in Taiwan Y9999, +0.93% , Singapore STI, +0.26% , Malaysia FBMKLCI, +0.74% and New Zealand NZ50GR, +0.37% were all logging gains.