CANBERA (dpa-AFX) - Asian stocks rose on Friday as optimism about a possible global economic recovery helped investors shrug off a second wave of coronavirus infections.
Chinese shares rose, a day after policymakers pledged to maintain ample financial system liquidity in the second half of the year. Sentiment was also bolstered after a Chinese health expert said the virus outbreak in Beijing had been brought under control.
The benchmark Shanghai Composite index climbed 28.32 points, or 0.96 percent, to 2,967.63, while Hong Kong's Hang Seng index ended up 0.73 percent at 24,643.89.
Japanese shares advanced on hopes of an economic recovery after the government lifted all coronavirus-related curbs on domestic travel to help the economy bounce back from a pandemic recession.
The Nikkei average rose by 123.33 points, or 0.55 percent, to 22,478.79 while the broader Topix index closed marginally lower at 1,582.80.
Airline and other transportation sectors led gains, with Japan Airlines climbing 2.1 percent and ANA Holdings rising 1.4 percent.
Semi-conductor stocks also gained ground after factory activity in the U.S. mid-Atlantic region rebounded sharply in June. Advantest rallied 2.5 percent and Screen Holdings added 1.2 percent.
Tokyo Electron soared 7.1 percent after it forecast an 11 percent rise in net profit for the current business year through March 2021.
Overall consumer prices in Japan were up 0.1 percent year-on-year in May, the Ministry of Internal Affairs and Communications said - matching estimates and unchanged from the April reading.
Core consumer prices, which exclude volatile food prices, sank an annual 0.2 percent - missing expectations for a fall of 0.1 percent and unchanged from the previous month's reading.
According to minutes of the bank's April meeting released today, BoJ board members had warned that stronger monetary support and closer policy coordination with the government were needed to prevent Japan from returning to deflation.
Australian markets hit a more than one-week high before giving up all gains to end the session on a flat note amid renewed concerns about a second wave of Covid-19 infections around the world.
The benchmark S&P/ASX 200 index edged up by 6.10 points to 5,942.60, while the broader All Ordinaries index ended up by 9.70 points at 6,061.60.
Energy stocks such as Origin Energy, Santos and Woodside Petroleum rose between 0.2 percent and 0.6 percent. Cardinal Resources jumped as much as 28 percent after its board recommended an all-cash takeover offer for the company from Shandong Gold Mining Co.
Miners BHP, Fortescue Metals Group and Rio Tinto fell between 1.4 percent and 1.9 percent. Banks ended on a mixed note. ANZ fell 1.7 percent, Commonwealth Bank shed half a percent and NAB gave up 0.6 percent while Westpac rose 0.4 percent.
AMP gained 0.6 percent. The financial services group said it has appointed Boe Pahari, its global head of infrastructure equity, as its chief executive from July 1, succeeding Adam Tindall.
Australian retail sales grew by 16.3 percent on a monthly basis in May, the biggest on record, following a record decline of 17.7 percent in April, a government report showed today.
Seoul stocks fluctuated before closing a tad higher despite reports suggesting that North Korea redeployed troops to border guard posts and the Kaesong Industrial Complex, tearing up a 2018 military de-escalation pact between the two Koreas. The benchmark Kospi gained 0.37 percent to end at 2,141.32.
South Korea added 49 new coronavirus cases today, raising the total caseload to 12,306, according to the Korea Centers for Disease Control and Prevention (KCDC).
New Zealand shares rose modestly, with the benchmark NZX 50 index ending up 29.46 points, or 0.26 percent, at 11,254.74. The index gained around 3 percent for the week.
U.S. stocks ended mixed overnight as worries of a possible second coronavirus wave persisted and the number of jobless claims came in higher than expected.
On the positive side, readings on regional manufacturing activity and leading economic indicators topped forecasts.
The tech-heavy Nasdaq Composite edged up 0.3 percent to extend gains for the fifth straight session and the S&P 500 finished marginally higher, while the Dow Jones Industrial Average dropped 0.2 percent.
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