05.04.201301:36:10UTC+00Japan stocks skyrockets, as rest of Asia falls

Japanese stocks stormed higher Friday as the promise of unprecedented monetary stimulus splashed a new wave of purchasing, powered by exporters and the real-estate industry.

Their performance sharply stack up against each other with deep losses in Hong Kong and other regional markets, as investors digested a surge in U.S. jobless claims and braced for key employment data from the world’s biggest economy later Friday.

Japan’s Nikkei Stock Average climbed 3.5% to 13,076.02, driving ahead the psychologically important 13,000-point level and staying on course for a weekly increase of more than 5%.

The advance came on top of the 2.2% rally Thursday, when the Bank of Japan’s decision to reveal bold policy easing triggered a sharp swing advance for stocks in Tokyo, also spurring shares on Wall Street later in the day despite the downbeat jobless-claims figures.

But markets stepped back elsewhere in Asia, with Hong Kong’s Hang Seng Index missing 1.9%, South Korea’s Kospi diving 1.3%, and Australia’s S&P/ASX 200 diminishing 0.6%.

Stock markets on mainland China and in Taiwan remained close for holidays.

“It was the Bank of Japan’s aggressive stimulus measures that provided the real impetus for U.S. markets. ... Given that the U.S. jobless claims data underwhelmed, there is concern the nonfarm payrolls will follow suit and add to the recent run of bearish signals. If this does occur, another sell-off is on the cards, deepening the current correction taking place,” said CMC Markets sales trader William Leys.

Japanese property shares were among the best gainers after the central bank announced it would purchase more real-estate investment trust securities.

Mitsui Fudosan Co. climbed 15.2%, Mitsubishi Estate Co. upgrade 13.8% and Sumitomo Realty & Development Co. bolster 14.8%.

Exporters also enjoyed bulk purchasing, as the Bank of Japan’s moves helped the dollar puss forward in excess of 2 full yen since the previous Tokyo-market close, to buy more than ¥97.

Among the major exporters, Nissan Motor Co. spiked 7.4%, Toyota Motor Corp. build up 3.4% and Hitachi Ltd. trading 5.1% higher.

Honda Motor Co. acquired 2.2% despite a Kyodo News report that it was recalling more than 145,000 vehicles in Japan.

Also joining the upward march were financials, among the sectors expected to gain advantage from the Bank of Japan’s latest policy actions. Mitsubishi UFJ Financial Group Inc. rose 6.8% higher, while smaller lender Shinsei Bank Ltd. hopped 12.8%.

Among other major movers, Seven & I Holdings Co. skyrocketed 13.1% after displaying a record net profit for its fiscal year ended in February, while predicting another record-beating performance in the current year.