LONDON (SHARECAST) - Stocks in Japan stage a last minute rally on Thursday, after mostly lacklustre trading earlier in the day, on hopes that the Bank of Japan will announce further policy easing next week.
The benchmark Nikkei 226 index closed up 100 points at 9,055 in Tokyo with most of the gains coming towards the close. The Hang Seng index closed up 22 points at 21,786 in Hong Kong.
Stocks in Tokyo were pressured early on after a raft of disappointing earnings updates from companies such as Sharp and Nippon Electric Glass.
Shares Sharp tanked over 6% after it reported a wider than expected loss for the six months to September. Meanwhile Nippon Electric Glass slumped 8% after it issued a disappointing earnings outlook.
On a brighter note, shares of mobile operator KDDI Corp rallied 5% on expectations of increased growth over the next year and after it announced a buyout plan of Jupiter Telecommunications with Sumitomo Corp.
Videogames makes Nintendo added 3% despite reducing its full year profit outlook.
Early trading was also subdued after the US Federal Reserve reiterated its policy stance amid ongoing concerns over the economy. However trading later picked up as the yen weakened against the dollar as expectations increase the BoJ will further ease monetary policy at next week's meeting.
In Hong Kong shares gained for the tenth straight session on Thursday although pulled off earlier highs as profit takers moved in on recent gains.
Gaming firms enjoyed some of the day's biggest gains with shares of Sands China and Wynn Macau rising 3.5% and 2.5% respectively.
LONDON (SHARECAST) - Stocks in Japan stage a last minute rally on Thursday, after mostly lacklustre trading earlier in the day, on hopes that the Bank of Japan will announce further policy easing next week.
