The South Korean government said on Monday that exports rose 46 percent last month from a year ago, the most in 15 years, because of accelerating global demand for the nation's mobile phones, cars and semiconductors.
"We can probably be more confident about an exports-led economy," said Jeon Woo Dong, who manages the equivalent of US$426 million at KB Investment Trust Management Co in Seoul.
Taiwan's TAIEX gained 2.9 percent this week. Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world's largest supplier of made-to-order chips, gained 5.5 percent to NT$67.
Hong Kong's Hang Seng had its first weekly decline in five.
HSBC, the Hang Seng's biggest constituent, fell 4.7 percent to HK$122.
JP Morgan in a research report Tuesday cut its recommendation on the stock to "underweight" from "neutral" because HSBC reported last year pretax earnings of US$12.8 billion that missed the broker's estimate of US$13.2 billion. Net income at the lender climbed 41 percent to US$8.77 billion.
"They didn't give that much of a positive surprise and that's why we've seen some selling," said East Asia Asset Management's Lau. "There have been some sell recommendations out there."
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