Investing.com - Asian stock markets edged higher on Friday, as sentiment remained supported by newly found optimism over the outlook for global economic growth and the handling of the debt crisis in the euro zone.
During late Asian trade, Hong Kong's Hang Seng Index added 0.22%, Australia’s ASX/200 Index advanced 0.26%, Japan’s Nikkei 225 Index rose 0.25%.
Sentiment remained supported after official data on Thursday showed that the Chinese economy expanded by 7.4% in the three months to October, matching economists' forecasts.
Concerns over the recovery over the U.S.'s job market re-surfaced however, after the U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week rose by 46,000 to a seasonally adjusted 388,000, compared to expectations for an increase to 365,000.
Meanwhile, investors were looking ahead to the second day of a European Union summit, although no major announcements on Spain or Greece were expected.
In Tokyo, the Nikkei edged up as sentiment remained supported.
Lawson jumped 1.22% after the convenience store's president said in an interview with the Nikkei business daily that he was seeking to make payouts to increase the stock's dividend yield between 3.5 and 4%.
Rivals Seven & I Holdings and FamilyMart were down 0.70% and 0.27% respectively, on the other hand.
Elsewhere, Hino Motors dropped 0.86% on profit-taking, following reports saying that operating profit will reach a record JPY30 billion yfor the first half.
Meanwhile, shares in Hong Kong were higher, as investors consolidate strong gains this week ahead of the third-quarter earnings reporting season starting next week.
MGM China surged 3.95% as it announced it received approval to build its USD2.5 billion casino project in the former Portuguese colony of Macau, the world's biggest gambling market.
On the downside, HKEx, Asia's largest bourse operator, retreated 0.41% as regional competitor Singapore Exchange reported a 15% drop in quarterly net profit.
Elsewhere, Australian shares were also on the upside, supported by gains in mining stocks.
Mining giants Rio Tinto and BHP Billiton climbed 0.41% and 1.20% respectively, while Mirabela Nickel soared 6.67%.
Financial stocks were broadly lower on the other hand, as shares in Commonwealth Bank dropped 0.44% and ANZ Banking tumbled 1.08%, while Westpac Banking and National Australia Bank plunged 1.66% and 2.75% respectively.
Earlier in the day, National Australia Bank reported weaker-than-expected fourth quarter cash earnings and raised provisions to reflect slowing economic growth.
Looking ahead, European stock futures pointed to a higher open, amid ongoing EU talks.
The EURO STOXX 50 futures pointed to a 0.92% gain, France’s CAC 40 futures inched up 0.01%, London’s FTSE 100 futures added 0.04%, while Germany's DAX futures pointed to a 0.01% rise.
Later in the day, the euro zone was to publish official data on the current account, while Germany was to release government data on producer price inflation.
The U.S. was to produce industry data on existing home sales.
During late Asian trade, Hong Kong's Hang Seng Index added 0.22%, Australia’s ASX/200 Index advanced 0.26%, Japan’s Nikkei 225 Index rose 0.25%.
Sentiment remained supported after official data on Thursday showed that the Chinese economy expanded by 7.4% in the three months to October, matching economists' forecasts.
Concerns over the recovery over the U.S.'s job market re-surfaced however, after the U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week rose by 46,000 to a seasonally adjusted 388,000, compared to expectations for an increase to 365,000.
Meanwhile, investors were looking ahead to the second day of a European Union summit, although no major announcements on Spain or Greece were expected.
In Tokyo, the Nikkei edged up as sentiment remained supported.
Lawson jumped 1.22% after the convenience store's president said in an interview with the Nikkei business daily that he was seeking to make payouts to increase the stock's dividend yield between 3.5 and 4%.
Rivals Seven & I Holdings and FamilyMart were down 0.70% and 0.27% respectively, on the other hand.
Elsewhere, Hino Motors dropped 0.86% on profit-taking, following reports saying that operating profit will reach a record JPY30 billion yfor the first half.
Meanwhile, shares in Hong Kong were higher, as investors consolidate strong gains this week ahead of the third-quarter earnings reporting season starting next week.
MGM China surged 3.95% as it announced it received approval to build its USD2.5 billion casino project in the former Portuguese colony of Macau, the world's biggest gambling market.
On the downside, HKEx, Asia's largest bourse operator, retreated 0.41% as regional competitor Singapore Exchange reported a 15% drop in quarterly net profit.
Elsewhere, Australian shares were also on the upside, supported by gains in mining stocks.
Mining giants Rio Tinto and BHP Billiton climbed 0.41% and 1.20% respectively, while Mirabela Nickel soared 6.67%.
Financial stocks were broadly lower on the other hand, as shares in Commonwealth Bank dropped 0.44% and ANZ Banking tumbled 1.08%, while Westpac Banking and National Australia Bank plunged 1.66% and 2.75% respectively.
Earlier in the day, National Australia Bank reported weaker-than-expected fourth quarter cash earnings and raised provisions to reflect slowing economic growth.
Looking ahead, European stock futures pointed to a higher open, amid ongoing EU talks.
The EURO STOXX 50 futures pointed to a 0.92% gain, France’s CAC 40 futures inched up 0.01%, London’s FTSE 100 futures added 0.04%, while Germany's DAX futures pointed to a 0.01% rise.
Later in the day, the euro zone was to publish official data on the current account, while Germany was to release government data on producer price inflation.
The U.S. was to produce industry data on existing home sales.