Asian stocks rose while the US dollar held gains, with a gauge measuring the US currency against major peers headed for its biggest weekly advance since January, before data on the US jobs market.
Oil in New York climbed.
The MSCI Asia Pacific Index added 0.5 percent by 10:57am in Tokyo, paring its first drop in five weeks. Japan’s TOPIX index is heading for a more-than seven-year high.
The TAIEX fell 0.28 percent, or 26.64 points, to 9.595.09. Taiwan Semiconductor Manufacturing Co (台積電) shed 0.33 percent to NT$150, but smartphone maker HTC Corp (宏達電) rose 0.23 percent to NT$88.5.
The TOPIX rose 0.6 percent toward its highest close since December 2007. The Nikkei 225 Stock Average jumped 1 percent to an almost 15-year high as Uny Group Holdings Co climbed 8.7 percent after FamilyMart Co, Japan’s third-largest convenience store operator, said it is in talks with the department store chain about a possible merger.
The KOSPI in Seoul gained 0.3 percent, while New Zealand’s NZX 50 Index rose 0.5 percent after reaching a record earlier in the week. The S&P/ASX 200 Index declined 0.4 percent, driven lower by mining companies after the price of iron ore, Australia’s biggest export earner, slid below US$60 per dry tonne at China’s Qingdao port for the first time since at least 2009.
The Hang Seng Index added 0.4 percent in Hong Kong. Concern over the slowdown in China’s economy intensified when policymakers cut interest rates for the second time in three months last weekend. China’s economic growth goal for this year was set at about 7 percent on Thursday, down from last year’s target of about 7.5 percent. Data due today may show Chinese exports swung back to growth last month, while imports dropped for a fourth straight month, according to economists surveyed by Bloomberg.
In other markets on Friday, Wellington eased 0.29 percent, or 17.31 points, to 5,8456.77. Telecom giant Spark was down 1.22 percent at NZ$3.25 and Air New Zealand slipped 0.17 percent to NZ$2.95.
Manila closed 0.37 percent, or 28.79 points, lower at 7,819.04.
Mumbai was closed for a public holiday.
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