Most Asian stocks advanced Thursday, tracking a rebound on Wall Street, with the energy sector particularly strong after U.S. benchmark crude-oil prices topped $110-a-barrel overnight.
Japan’s Nikkei Stock Average gained 0.4% after a three-day losing streak, Hong Kong’s Hang Seng Index rose 0.5%, and South Korea’s Kospi added 1.2%.
Elsewhere, Indonesia’s JSX Composite rose 1.6%, and the Philippines’s PSEi Index climbed 1.1%.
On the downside, Australia’s S&P/ASX 200 fell 0.4% amid concerns about a possible U.S.-led military strike against Syria, and China’s Shanghai Composite was marginally lower in choppy trade.
Energy producers in Asia keyed off the sharp recent rally in oil prices.
Inpex Corp. jumped 5.3%, and Japan Petroleum Exploration Co. rose 4.4% in Tokyo, while Oil Search Ltd. added 1.1% in Sydney.
In Hong Kong, shares of Cnooc Ltd. climbed 1.2%, while PetroChina Co. gained 1.9%, and Kunlun Energy Co. rose 2.6% to recover the steep losses they suffered Wednesday.
Also spurring gains in Hong Kong, Agricultural Bank of China Ltd. rose 2.4% following a 15% increase in its first-half profits, and China Minsheng Banking Corp. advanced 3.1% in the wake of a 20% improvement in its earnings for the six months ended June.
Insurance giant China Life Insurance Co. gained 0.7% after posting a 68% jump in half-yearly net income.
The Shanghai-listed shares of AgBank , China Minsheng and China Life rose 0.4%, 0.3% and 0.4%, respectively.
Meanwhile, Japanese stocks also drew support from a bounce in some shipping and petrochemical firms, with Kawasaki Kisen Kaisha Ltd. adding 2.8%, and Showa Denko K.K. advancing 1.6%.
However, Panasonic Corp. dropped 2.2% after the Nikkei newspaper reported the company will exit the consumer smartphone segment.
In Sydney, Kingsgate Consolidated Ltd. was among the notable movers, plummeting 20.4% as the gold miner swung to an annual net loss and didn’t declare a final dividend.
Shares of Westfield Group lost 1.2% after the Australian shopping-mall operator said its first-half profit fell 36%.
On the upside, Qantas Airways Ltd. soared 9.1% after the airline swung back to a modest annual profit.
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