Stocks were mostly higher in Asia on Friday, after a positive session on Wall Street which saw investors shrugging off concerns over Russia’s invasion of Ukraine.
In Japan, the Nikkei 225 was up 1.95% at 26,476.50, as the yen strengthened 0.16% on the dollar to last trade at JPY 115.35.
It was a day of recovery for the benchmark’s major components, with automation specialist Fanuc up 4.05%, fashion firm Fast Retailing rising 1.33%, and technology conglomerate SoftBank Group 5.56% firmer.
The broader Topix index advanced 1% by the end of trading in Tokyo, closing at 1,876.24.
On the mainland, the Shanghai Composite was 0.63% firmer at 3,451.41, and the smaller, technology-heavy Shenzhen Composite gained 1.21% to 2,310.07.
South Korea’s Kospi was up 1.06% at 2,676.76, while the Hang Seng Index in Hong Kong was the region’s odd one out, slipping 0.59% to 22,767.18.
The blue-chip technology stocks managed modest gains in Seoul, with Samsung Electronics up 0.56%, and SK Hynix ahead 0.41%.
Neil Wilson of Markets.com said global markets sold off aggressively on Thursday on fear – fear of sanctions, rather than a fear for the future of Ukraine.
“The absence of any sanctions on Russia oil and gas, and decision to not exclude the country from the SWIFT payments network left the market breathing a sigh of relief as to the global economic impact the invasion might have,” he noted.
“It’s sad to say the market does not care particularly about the plight of Ukrainians.
“We could also say that the market looked oversold and buy the dip still pervades – many think invasion is the time to be buying not selling.”
Oil prices were mixed as the region entered the weekend, with Brent crude last up 0.26% at $99.34, while West Texas Intermediate lost 0.3% to $92.53.
Prices for the thick black stuff had surged on Thursday as Russia began its violent assault on Ukraine, with Brent futures remaining above the $100 level for much of the day.
In Australia, the S&P/ASX 200 eked out gains of 0.1% to 6,997.80, with payments processor Block rocketing 32.49% in Sydney trading.
The company, which was known as Square until December, posted better-than-expected fourth quarter profits overnight.
Across the Tasman Sea, New Zealand’s S&P/NZX 50 was up 1.63% at 11,923.38, led higher by cinema technology company Vista Group, which jumped 8.2%.
The down under dollars were both stronger on the greenback, with the Aussie last ahead 0.47% at AUD 1.3895, and the Kiwi advancing 0.26% to NZD 1.4901.
