Core private-sector machinery orders surged 10.8 percent in April from March, well above the 3.7 percent rise expected by the market.
"The outcome clearly shows that corporate capital investment has maintained a firm trend against all the odds, and we believe there is even the chance that the rise here may gain further momentum in the near term," said Mitsubishi Research and Consulting senior economist Tatsushi Shikano.
SEOUL
Share prices closed 1.02 percent higher on Friday, ending a three-day steep decline as bargain hunters picked up oversold stocks.
Dealers said the market fell below the 1,220 point-level at one stage due to a massive sell-off by foreign investors but rebounded after program selling eased in late trade.
The KOSPI index added 12.52 points at 1,235.65. Volume was 226 million shares worth 3.2 trillion won. Rises outnumbered falls 592 to 187.
"Bargain hunters flowed in, driving the index up today," Kium.com Securities analyst Kim Hyoung-Ryoul, adding the market would show a limited upside for the time being although it has succeeded in applying the brakes during the recent wave of panic selling.
hong kong
Share prices closed 1.16 percent higher on a technical rebound led by China Mobile and HSBC after three straight days of falls.
Dealers said the Tokyo bourse's gains also provided some support but sentiment remained tentative given the recent heavy losses on concerns inflation will push US interest rates higher even at the risk of slower growth.
The Hang Seng Index rose 178.58 points at 15,628.69. Turn-over was HK$33.38 billion (US$4.28 billion).
"The market extended its gains in the afternoon as it drew support from interest in selected blue chips such as HSBC and China Mobile," said Jackson Wong, investment manager at Tanrich Securities.
"Investors' confidence was restored a bit after the rebound in Japanese market ... they started chasing selected stocks which had fallen sharply in previous sessions," he said.
Wong said, however, that the uncertainty over interest rates is likely to continue affecting the market's performance.
"I expect the market to continue to be volatile and its performance will depend heavily on US economic and inflation data, but the market should see strong support at the 15,200 points level," Wong noted.
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