AFP, Hong Kong :
Asian markets mostly rose Friday, ending the week on a high note, as the dollar broke pushed above the 120 yen mark and the euro held on to gains after the European Central Bank held off fresh stimulus measures.
Traders overcame early profit-taking that came in response to losses on Wall Street, while they are now keeping an eye on the release later in the day of US jobs data.
Tokyo rose 0.19 percent, or 33.24 points, to end at 17,920.45 and Shanghai climbed 1.32 percent, or 38.19 points, to 2,937.65 while in the afternoon Hong Kong was up 1.12 percent.
Seoul closed flat, edging up 0.01 points to 1,986.62.
However, Sydney closed 0.62 percent lower, dipping 33.5 points to 5,335.30 with energy firms hit by the weak oil prices.
Regional shares have enjoyed a strong week, boosted by a slew of strong US economic data and several new record highs on Wall Street.
The gains Friday came despite disappointment that the ECB refused to embark on any new stimulus at its policy meeting, even though it cut its already weak growth and inflation forecasts for the eurozone.
But its president, Mario Draghi, said it had stepped up preparations for extra measures-similar to those already taken in Britain, Japan and the United States-and would continue to assess the impact of its existing easing efforts on the bloc’s moribund economy.
Should it become necessary to further address risks of too prolonged a period of low inflation, the governing council remains unanimous in its commitment to using additional unconventional instruments,” he said.
This would imply altering early next year the size, pace and composition of our measures.”
Draghi stressed that “early next year” did not necessarily mean the bank’s next meeting in January.
The news provided support to the euro, which jumped to $1.2380 and 148.27 yen in New York Thursday, from $1.2300 and 147.62 yen earlier in the day in Tokyo.
On Friday, the European single currency fetched $1.2370 and 148.55 yen.
In other foreign exchange trades, the dollar nudged back above 120 yen mark after passing briefly it in London Thursday for the first time since July 2007.
The greenback was at 120.13 yen , up from its 119.77 yen level late in New York.
The dollar has enjoyed strong support against the Japanese currency thanks to a raft of data showing the US economy is on a recovery track, as well as the Bank of Japan’s decision to ramp up its stimulus programme.
On Wall Street the Dow eased 0.07 percent, the S&P 500 dipped 0.12 percent and the Nasdaq declined 0.11 percent.
Crude prices remained stuck around five-year lows after the OPEC oil cartel’s decision to maintain output levels despite a global glut.
US benchmark West Texas Intermediate (WTI) for January delivery tumbled 44 cents to $66.37 a barrel in afternoon trade and Brent crude for January dropped 49 cents to $69.15.
Gold was at $1,204.67 an ounce, compared with $1,203.88 late Thursday. In other markets:
Taipei fell 0.20 percent, or 18.54 points, to 9,206.57.
Taiwan Semiconductor Manufacturing Co. slipped 1.08 percent to Tw$137.5 while Acer rose 0.97 percent to Tw$20.9.
Wellington was flat, edging up 0.77 points to 5,522.68.
Contact Energy rose 0.63 percent to NZ$6.36 and Fletcher Building added 1.19 percent to close at NZ$8.50.
Bangkok was closed for a public holiday.
Asian markets mostly rose Friday, ending the week on a high note, as the dollar broke pushed above the 120 yen mark and the euro held on to gains after the European Central Bank held off fresh stimulus measures.
Traders overcame early profit-taking that came in response to losses on Wall Street, while they are now keeping an eye on the release later in the day of US jobs data.
Tokyo rose 0.19 percent, or 33.24 points, to end at 17,920.45 and Shanghai climbed 1.32 percent, or 38.19 points, to 2,937.65 while in the afternoon Hong Kong was up 1.12 percent.
Seoul closed flat, edging up 0.01 points to 1,986.62.
However, Sydney closed 0.62 percent lower, dipping 33.5 points to 5,335.30 with energy firms hit by the weak oil prices.
Regional shares have enjoyed a strong week, boosted by a slew of strong US economic data and several new record highs on Wall Street.
The gains Friday came despite disappointment that the ECB refused to embark on any new stimulus at its policy meeting, even though it cut its already weak growth and inflation forecasts for the eurozone.
But its president, Mario Draghi, said it had stepped up preparations for extra measures-similar to those already taken in Britain, Japan and the United States-and would continue to assess the impact of its existing easing efforts on the bloc’s moribund economy.
Should it become necessary to further address risks of too prolonged a period of low inflation, the governing council remains unanimous in its commitment to using additional unconventional instruments,” he said.
This would imply altering early next year the size, pace and composition of our measures.”
Draghi stressed that “early next year” did not necessarily mean the bank’s next meeting in January.
The news provided support to the euro, which jumped to $1.2380 and 148.27 yen in New York Thursday, from $1.2300 and 147.62 yen earlier in the day in Tokyo.
On Friday, the European single currency fetched $1.2370 and 148.55 yen.
In other foreign exchange trades, the dollar nudged back above 120 yen mark after passing briefly it in London Thursday for the first time since July 2007.
The greenback was at 120.13 yen , up from its 119.77 yen level late in New York.
The dollar has enjoyed strong support against the Japanese currency thanks to a raft of data showing the US economy is on a recovery track, as well as the Bank of Japan’s decision to ramp up its stimulus programme.
On Wall Street the Dow eased 0.07 percent, the S&P 500 dipped 0.12 percent and the Nasdaq declined 0.11 percent.
Crude prices remained stuck around five-year lows after the OPEC oil cartel’s decision to maintain output levels despite a global glut.
US benchmark West Texas Intermediate (WTI) for January delivery tumbled 44 cents to $66.37 a barrel in afternoon trade and Brent crude for January dropped 49 cents to $69.15.
Gold was at $1,204.67 an ounce, compared with $1,203.88 late Thursday. In other markets:
Taipei fell 0.20 percent, or 18.54 points, to 9,206.57.
Taiwan Semiconductor Manufacturing Co. slipped 1.08 percent to Tw$137.5 while Acer rose 0.97 percent to Tw$20.9.
Wellington was flat, edging up 0.77 points to 5,522.68.
Contact Energy rose 0.63 percent to NZ$6.36 and Fletcher Building added 1.19 percent to close at NZ$8.50.
Bangkok was closed for a public holiday.
