Pedestrians look at a share prices board in Tokyo. The Nikkei 225 index closed up 219.16 points to 18,971 yesterday.
AFP/Tokyo
Asian markets mostly rose yesterday following gains in New York, while the euro remained stuck at 11-year lows after the European Central Bank said it would launch its massive stimulus programme next week.
While the euro struggled, the more upbeat mood provided support to the dollar ahead of the release later in the day of US jobs data, with a positive report seen supporting the Federal Reserve’s move to raise interest rates.
Tokyo climbed 1.17% thanks to a weaker yen. The Nikkei 225 index rose 219.16 points to close at 18,971while Seoul closed 0.73%, or 14.56 points, higher at 2,012.9.
Sydney was flat, edging down 5.26 points owing to a decline in the price of iron ore, ending at 5,898.9.
Hong Kong gave up 0.12%, or 29.04 points, to 24,164and Shanghai slid 0.22%, or 7.29 points, to 3,241.19, with investors subdued a day after China lowered its economic growth target for 2015.
In other markets, Taipei rose 0.53%, or 50.68 points, to 9.645.77; Acer increased 4.83% to Tw$21.7 while Taiwan Semiconductor Manufacturing Co fell 0.67% to Tw$149.0.
Wellington rose 46.29 points, or 0.79%, to 5,903.07; Spark was up 1.54% at NZ$3.30, while retailer Warehouse Group slipped 4.12% to NZ$2.79.
Manila closed up 0.54%, or 42.29 points, at 7,861.33; Metro Pacific Investments fell 3.77% to 4.85 pesos, Universal Robina gained 1.13% to 215.60 pesos, while Megaworld slipped 1.07% to 5.54 pesos.
Bangkok closed up 0.96%, or 14.96 points, to 1,568.29; Airports of Thailand rose 2.73% to 301baht, while telecoms company Advanced Info Service added 1.70% to 239baht.
Jakarta ended up 1.17%, or 63.84 points, to 5,514.79; cement maker Semen Indonesia rose 0.34% to 14,950 rupiah, while palm oil producer Astra Agro Lestari fell 0.57% to 26.150 rupiah.
Singapore closed up 0.66%, or 22.24 points, to 3,417.51; commodity traders Noble Group advanced 4.98% to Sg$1.05 while Singapore Telecom advanced 1.70% to Sg$4.18.
Kuala Lumpur was flat, rising 0.87 points to 1,806.96; CIMB Group was up 1.75% at 5.82 ringgit, while Hong Leong Financial Group gained 1.18% to end at 17.20 ringgit.
ECB head Mario Draghi told a news conference that from Monday the bank would buy €60bn ($66bn) of private and public bonds each month for at least 18 months in a bid to ward off deflation.
He also said it had increased its 2015 eurozone growth forecast to 1.5%, followed by 1.9% in 2016 and 2.1% in 2017.
At the same time he forecast inflation at zero this year, lower than previously projected, but added it would pick up to 1.5% next year and to 1.8% in 2017.
The news pushed the euro below $1.10 in New York for the first time since September 2003 before it recovered slightly to end Thursday at $1.1028.
In Tokyo it bought $1.1015, well down from the levels around $1.12 at the beginning of the week.
The single currency also bought ¥132.35 compared with ¥132.50 in US trade.
“We now have details of European easing measures, and the yen’s maintaining 120 to the dollar, these factors should push up stocks,” Juichi Wako, a senior strategist at Nomura Holdings in Tokyo, said. “We’ll probably have a wait-and-see mood ahead of the US jobs report.”
The dollar was at ¥120.19, against ¥120.14 in New York but up from ¥119.85 in Tokyo earlier Thursday.
Wall Street’s three main indexes broke a two-day losing streak to rally Thursday on the ECB announcement as well as a $21bn tie up between pharma company AbbVie and drug maker Pharmacyclics.
The Dow added 0.21%, the S&P 500 rose 0.12% and the Nasdaq put on 0.32%.
Focus is now on Friday’s US non-farm payrolls figures. Analysts expect growth of 240,000 jobs in February and a fall in the unemployment rate to 5.6% from 5.7%.
Oil prices edged higher on heightened tensions in the crude-rich Middle East, analysts said.
US benchmark West Texas Intermediate added 25 cents to $51.01 while Brent gained 40 cents to $60.88 in afternoon trade.
