Japanese stocks rose sharply

Japanese stocks rose sharply Thursday ahead of a key press conference by the central bank governor again, while manufacturing data helped stocks to support China in a day mostly higher for Asian markets.

Japan Nikkei JP: 1.20% 100000018 returned from holiday a day to climb by 1.3%, while South Korea's Kospi KR: SEU -0.05%  inchded  0.1%.

Hong Kong’s  Hang Seng index: HSI 0.22%  to  0.4%, while the Shanghai Composite Index CN: 000001+ 0.30%  rose 0.3% to extend a great performance on Wednesday after the release Thursday of preliminary Chinese manufacturing numbers.

Among the losers short, Australia’s S & P / ASX 200 index AU: XJO -0.22% fell 0.2%.

Setting the stage for gains in Asia, U.S. stocks rose on Wednesday after the Federal Reserve concluded its monthly meeting with the security policy that will continue to support the U.S. economy.

Meanwhile, the preliminary study by HSBC Chinese manufacturing struck on Thursday, showing a rise in the index to 51.7 in March from the final reading of 50.4 in February.

"The rebound in the PMI suggests that at least part of the slowdown in the growth rate in February was attributed to a seasonal effect stronger than usual of the [Lunar] New Year holidays, and provides encouraging signs that the economy is not facing a renewed weakening, "said Chris Williamson, chief economist at Markit, who helped compile the HSBC survey.

Data sent benchmark indices in Hong Kong and Shanghai, to the modest gains after trading around the flat front-line numbers.

Hong Kong-listed banks extended gains from Wednesday, with Bank of Communications Co. HK:3328 +0.51% BCMXY +0.52%  up 1.4% and Industrial & Commercial Bank of China Ltd. HK:1398 +0.37%   IDCBY +4.59%  higher by 1.3%. 

On the Chinese mainland, China Citic Bank Corp. CN:601998 +3.49%   rose 2.7%, but other lenders traded flat to lower as investors paused after pushing shares higher on Wednesday, with China Merchants Bank Co. CN:600036 +0.15%   CIHHF +5.34%   down 0.3%. 

In Japan, the central bank policy is expected to be a focus later on Thursday, with the new Bank of Japan, Haruhiko Kuroda, the governor expected to announce "bold monetary easing, both in terms of quantity and quality" in order quickly reaching the bank 2% inflation target, according to a news report Kuroda Nikkei preview press conference.

Signs that the bank will take aggressive action policies have boosted the dollar by almost 11% against the yen since early this year, with the movement that has a beneficial effect on the stock market-heavy Japanese exporter.

Among exporters extending gains Thursday, Kyocera Corp. JP:6971 +3.54%  rose 3.8%, Canon Inc. JP:7751 +2.15%   CAJ +1.15%  added 2.6%, and Sony Corp. JP:6758 +4.03%   SNE +3.15%  surged 4%.
Inflation plays were also advancing, with Sumitomo Mitsui Trust Holdings Inc. JP:8309 +3.01% up 3%, and Daiwa Securities Group Inc. JP:8601 +3.62%   DSECF +15.76%  gaining 3.5% in the financial sector.

Retailers also drew strong interest, as J. Front Retailing Co. JP:3086 +2.03% rose 1.9% and Seven & I Holdings Co. JP:3382 +4.25%   SVNDF -3.79%  gained 3.9%.

Australian banks were higher, with Westpac Banking Corp. AU:WBC +0.57%   WEBNF -0.55%  up 0.7% and Australia & New Zealand Banking Corp. AU:ANZ +0.88%   ANEWF +0.03%  higher by 0.8%.

However, supermarket operators declined in Sydney, with Wesfarmers Ltd. AU:WES -2.43%   WFAFF -1.14%  down 2%.

In South Korea, Kia Motors Corp. KR:000270 +1.10%   KIMTF -1.81%  gained 1.3%, while LG Chem Ltd. KR:051910 +2.59%  gained 2.8%.