In Hong Kong HSBC shares rose 1.5% before the company's announcement early today in London that it had missed earnings estimates. The gain helped push the Hang Seng Index up 1.4.% In China the Shanghai Composite advanced 0.9% and in Japan the Nikkei 225 Index added 0.9%.
Positive earnings outlooks among some of Japan's major companies continued to boost investor sentiment. Japan's Nikkei 225 Index added 0.4% to close at 10,636. Hong Kong's Hang Seng slid 0.3% to end the day at 23,484. Markets in China remained closed for Chinese New Year.
Bargain hunters poured money into Chinese shares Friday, sending the Shanghai Composite Index surging 1.4%. In Hong Kong, however, the Hang Seng Index lost 0.5%, and in Japan, the Nikkei 225 tumbled 1.6%.
A building boom -- and the constrained supply of materials due to mandated energy cuts -- sent Chinese cement, metal and building-equipment stocks up Thursday. Meanwhile, Hong Kong and Japanese exporters benefited from improving consumer sentiment and falling unemployment in the U.S.
