ASIA STOCKS get February bounce

Asian stocks bounced back in February.

On Friday, markets only made small movements with the S&P/ASX 200 up 0.3% and the Kospi flat. In China, Hong Kong’s Hang Seng Index rose 0.5% and the Shanghai Composite Index rose 0.1%.

Japan's Nikkei share average dropped for a third day on Friday as investors remained cautious amid tensions in Ukraine, while a stronger yen weighed on risk appetite and dragged down exporters. The Nikkei ended 0.6% lower at 14,841.07. 

Hong Kong’s Hang Seng Index was 4.2% higher month-to-date after a 5.5% loss in January, while South Korea’s Kospi rose 1.9%. Japan’s Nikkei Stock Average, however, fell 0.5% for the month and down 8.4% year-to-date.

Japan’s industrial production grew the most since 2011, indicating the economy is strengthening as a looming sales-tax bump stimulates demand, while inflation matched the highest level in more than five years.

Output rose 4% in January from the previous month, the trade ministry said today in Tokyo, more than a 2.8% median estimate of economists. Consumer prices excluding fresh food climbed 1.3% from a year earlier, the statistics bureau said.

Retail sales posted the biggest increase in January since April 2012, rising 4.4% on year to 11.7 trillion yen ($114.8 billion), the most for the month of January in data back to 1980, the trade ministry said. The consensus forecast was for a 3.8% rise.

The job market showed further signs of improvement.

Markets were little moved ahead of the release of China’s official manufacturing Purchasing Managers’ Index for February, which is scheduled for Saturday. Last week, HSBC’s measure fell to a seven-month low and investors will be looking to see if the official reading makes a similar move.

In Australia, the corporate-earnings season progressed as shares in Woolworths Ltd dropped 1% on profit-taking, after the country’s largest retailer by value said that first-half profit jumped 15% due to rising food and liquor sales. Despite Friday’s fall, the stock remains 6.4% up for the year, outperforming the broader market.

Also in Sydney, Virgin Australia Holdings fell 0.9% after the airline posted a first-half loss. Manufacturer of building materials James Hardie Industries jumped 7.1% after its third-quarter underlying net profit beat expectations.

Source of information>>

More information>>