Among export shares Nissan Motor was up nearly 5% with Honda not far behind rising 4%. Sony joined in with a 0.5% climb as did video game Nintendo gaining nearly 1%. The Nikkei Stock Average rose 0.8% to fresh 10-month high. Elsewhere in the region, Australia’s S&P/ASX 200 was up 0.5%, Hong Kong’s Hang Seng Index added 0.2%, while the Shanghai Composite Index was down 0.8%. The broader Topix was up 0.6 percent to 1,468.48, rising for an 11th day to post the longest winning streak since May 2015.
Global commodity prices help push the Australian market higher with copper hitting a 17-month high Thursday as stronger expectations for manufacturing continue offsetting in part the higher dollar. Not to be unnoticed, the WSJ rpeorted, the "latest consumer price data in Japan showed deflation there was slowing. The core consumer price index there fell 0.4% from a year earlier in October, adjusted for fresh food and energy prices, according to data released Friday. The reading marked the eighth consecutive monthly decline, but was smaller than the 0.5% drop in the previous month." The Australian dollar was steady at $0.7427 against the dollar late Friday morning, compared with levels below $0.735 last week.
Oil futures were up 0.08 percent at $48.00 a barrel during Asian trade on Friday, while Brent crude was nearly flat at $49.01."Brent oil is parked just below $50 as traders wait on the outcome of the OPEC meeting. This sets oil up for a significant move next week depending on whether or not OPEC achieves an agreement on meaningful production cuts," one source noted. Gold was at $1183.90 down $4.00 as a strong U.S. dollar and Federal Reserve rate hike expectations weighed heavily on the metal.
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