Asia report: Markets mostly higher, China off for Lunar New Year

In Japan, the Nikkei 225 added 1.47% to 21,464.98, as the yen strengthened 0.52% against the dollar to last trade at JPY 106.44.

Technology and financial plays were significant gainers, with Mitsubishi UFJ Financial Group rising 1.82% and Sony finishing ahead 1.87%.

Manufacturers were also on the front foot, with Fanuc Manufacturing rising 2.1% and Komatsu ahead 3.95%.

Fresh data out of Tokyo showed core machinery orders were down 11.9% in December - far wider than the 2.3% median drop predicted.

On the mainland, markets were closed for the Lunar New Year holiday, as were those in South Korea.

Hong Kong’s Hang Seng Index was up 1.97% at 31,115.43, with financials among the biggest winners by end-of-play.

China Construction Bank finished the session 4.69% higher, and HSBC was up 2.01%.

Oil prices were slightly higher, with Brent crude last up 0.42% at $64.63 per barrel and West Texas Intermediate adding 0.88% to $61.14.

In Australia, the S&P/ASX 200 added 1.16% to 5,909.00, with energy, gold and materials posting star performances among the sectors.

Of the major miners, BHP was up 3.56% and Rio Tinto added 4.06% in Sydney trading.

Earnings season continued down under, with Origin Energy ahead 6.86% after it announced underlying EBITDA grew 51% in the first half to AUD 1.49bn.

The company also lifted its guidance for the full-year, to a range of between AUD 1.78bn and 1.85bn, from a previous range of AUD 1.7bn to 1.8bn.

Insurance giant Suncorp lost 2.4% after it reported a 15.8% drop in half-year net profit to AUD 452m, with the board blaming higher-than-expected claims on natural hazards as a major factor.

That was short of the AUD 486m net profit predicted by Thomson Reuters.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 was up 0.06% at 8,063.33, led higher by fishing and seafood processing group Sanford, which was 4% higher.

Other top performers in Wellington were Australia and New Zealand Banking Group and Metro Performance Glass, which added 2.3% and 3.5% respectively.

Both of the down under dollars were stronger on the greenback, with the Aussie last ahead 0.44% at AUD 1.2561 and the Kiwi advancing 0.47% to NZD 1.3511.