Japanese stocks jumped briefly Friday after the Bank of Japan unveiled fresh easing measures to support the economy, while solid earnings reports from major technology and resource names lent support in Seoul and Hong Kong .
Japan's Nikkei Stock Average rallied some 1.3% after the central bank announcement before easing back to a 0.4% gain.
Hong Kong's Hang Seng Index climbed 0.6%, and South Korea's Kospi added 0.5% after record results from Samsung Electronics Co. (SSNLF).
Australia's S&P /ASX 200 index traded steady, while China's Shanghai Composite Index slipped 0.2%.
The performance in Asia came after better-than-expected housing data and an upbeat forecast from Citrix Systems Inc. pushed U.S. stocks higher overnight, sealing a three-session run of gains for the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX).
BOJ decision
Tokyo -listed shares shot higher after the Bank of Japan said it would expand its asset-purchase program by 5 trillion yen ( $61.88 billion ), while keeping interest rates on hold as expected.
The Japanese yen weakened after of the decision, with the dollar buying ¥81.25, up from ¥80.94 in late North American trading Thursday.
Still, Credit Agricole strategist Mitul Kotecha said that despite the impact of the fresh easing measures on the currency, "we would not get too excited, nor would we anticipate a renewed trend of Japanese yen weakness."
Earlier in the day, investors had sifted through a batch of Japanese data released just before the market open, including a weaker-than-expected rise in industrial production but a surprise jump in retail sales, ahead of the central bank decision.
Despite a 10.3% overall gain for retail sales, Tokyo -listed retailers were mostly weaker, as much of the increase was reportedly driven by car sales.
FamilyMart Co. (8028.TO) dropped 1.5%, J. Front Retailing Co. lost 1.2%, and Fast Retailing Co. (FRCOY) managed a 0.7% gain.
But some car makers outperformed, as Mazda Motor Corp. (MZDAY) and Nissan Motor Corp. each traded up 2.3%.
Reporting season
Tokyo -listed Advantest Corp. (ATE) jumped 6.4% after managing a quarterly profit, despite also posting a fiscal-year loss, while Kyocera Corp. (KYO) rallied 5.3% despite a drop in profit, as the firm's outlook tipped a recovery.
Also on the move, shares in Japanese mobile telecom Softbank Corp. (SFTBY) climbed 3.5% after announcing Thursday a 65% surge in fiscal-year profit and plans to hike dividends for the fiscal year.
But Nintendo Co. (NTDOF) slumped 6.8% after posting its first annual loss in more than 30 years.
In Seoul , shares of Samsung Electronics climbed 3.1% after the global tech major hit a fresh record first-quarter profit, boosted by strong sales of its mobile devices.
Macquarie Group Ltd. (MQBKY) added 4.2% in Sydney after the investment bank's 24% drop in annual profit broadly met expectations, and as it forecast a stronger outlook for 2013.
On the downside in Sydney , electronics and entertainment retailer JB Hi-fi Ltd. tumbled 6% after the company issued a profit warning.
Hong Kong movers
Solid earnings reports helped support Hong Kong . with PetroChina Co. (PTR) rising 3.4% and China Petroleum & Chemical Corp. (SNP), better known as Sinopec, edging up 0.7% after releasing results. (Read reports on and earnings.)
Shares of BOC Hong Kong Holdings Ltd. (BHKLY) jumped 2.6% after releasing its first-quarter earnings results late Thursday.
Strategists at Barclays Capital said BOC Hong Kong remained their favorite local Hong Kong bank, though they added they were "still cautious on the outlook for the Hong Kong banking sector and believe the mild easing of system liquidity year-to-date is a temporary phenomenon."
Still, Bank of China Ltd. (BACHY) lagged, shedding 1.2% after updating investors on its earnings.
Foxconn International Holdings Ltd. (FXCNF) was a sharp underperformer, with shares plunging 11.1%, after it warned of wider losses next year.
China's second-biggest brokerage by total assets, Haitong Securities Co. , made its trading debut Friday, dropping 0.8% after having raised $1.68 billion in what is now the world's biggest initial public offering of 2012 so far.
- Virginia Harrison ; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
04-27-12 0023ET
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