After six consecutive days with negative signs, Asian stock exchanges end the week on the upswing, matching the biggest decline in the last two months. News from Europe and the United States that would confirm a global recovery have awakened the enthusiasm. In particular, industrial production in Europe improved more than expected and the number of jobless claims in the United States fell to a five-year low.
The fall of the yen against the US dollar also brightened the horizon, given that it benefits Japanese exporting companies. Asia's largest automaker, Toyota, which gets 75% of its revenue from overseas, gained 3,5% on the back of the Japanese currency's biggest fall in three weeks. Australian group BHP Billiton rose 0,8% in Sydney in line with rising copper prices. Amada, a Japanese metal-cutting equipment maker rose 5,6% after reporting a 150 percent increase in operating profit.
The MSCI Asia Pacific index gained 1,4% to 131.43 as of 11:23 am in Hong Kong. All ten industrial groups present in the index had a positive sign. The Topix rose 2,2%, Australia's S&P/ASX 200 1,2% and South Korea's Kospi 1,1%. The Straits Times (+0,3%) and Taiex (+1%) were also positive.
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