Asian stock markets were mixed Friday, as investors looked to a coming jobs report in the U.S. for clues about when the Federal Reserve will raise interest rates.
The Nikkei 225 index leaped 334.27 points, or 1.9%, to 17,722.42.
The Hang Seng index in Hong Kong returned from holiday in a big way, ballooning 659.79 ponts, or 3.2%, to 21,506.09, helped by slightly stronger-than-expected Chinese manufacturing data reported Thursday.
Despite Hong Kong's gains, the broader weakness signals investors' continued caution, after slowing growth in China and market volatility shook stocks globally and made the three months to the end of September the worst quarter for many markets in years.
Markets in Shanghai remained shuttered for a national holiday
The health of the global economy remains among investors' biggest concerns, particularly as demand falters in China, the world's second-largest economy. September's growth in manufacturing was tepid at best.
In Japan, Sharp fell 2.9% and Suzuki Motor ended 2.4% lower. Aeon was 2.1% higher after a Nikkei report said its group operating profit likely rose more than previously expected. Among Australian stocks, Rio Tinto was 1.7% lower.
In currency markets, the Japanese yen was slightly weaker, trading at ¥120.11 to the U.S. dollar compared with ¥119.92 at the close of U.S. markets.
The Australian dollar was 0.1% weaker against the U.S. dollar
Many investors are watching closely for improvement in economic indicators, particularly from the U.S., which is set to release monthly jobs data late Friday. A brighter jobs picture could offer Fed officials reason to raise short-term interest rates later this year.
In Asia, better-than-expected Chinese manufacturing data Thursday offered some relief from the string of disappointing readings in recent weeks, particularly for Hong Kong-listed stocks when trading resumed Friday. In Australia, data on Friday showed retail sales up 0.4% in August from July, slightly better than expected.
Still, analysts remain cautious about reading too much into any short-term positive data.
In Japan, a central bank survey Friday showed that companies' inflation expectations weakened broadly over the third quarter, a sign that the Bank of Japan's campaign to generate stable 2% inflation may be faltering.
In other markets
In Korea, the Kospi index shed 9.64 points, or 0.5%, to 1,969.68
In Taiwan, the Taiex Index added 9.09 points, or 0.1%, to 8,305.03
In Singapore, the Straits Times Index lost 8.7 points, or 0.3%, to 2,793.15
The NZX 50 recovered 8.08 points, or 0.1%, to 5,593.51
The ASX 200 Index subtracted 60.12 points, or 1.2%, to 5,052.02
