TOKYO: Japan’s stocks rose on Friday following an upbeat session in US, and ending three consecutive days of losses.
The benchmark Nikkei 225 was up 1.07% at 19,245.35 in mid morning trade, despite oil prices continuing to sit near seven-year lows.
A weaker yen, which helps the country’s big exporters, was helping to boost investor confidence.
In Australia, investors were continuing to worry about commodity-related shares.
Sydney’s S&P/ASX 200 index was down 0.3% at 5,022.80.
Shares of mining giant BHP Billiton were down 1.77% in Sydney trade, while Fortescue Metals and Santos were both down more than 0.5%.
New iron ore miner BC Iron said on Friday it would suspend operations at a key mine in Western Australia, as falling iron ore prices continued to hurt the firm. The news sent its shares down more than 20%.
“Due to the ongoing and material fall in iron ore price, the decision has been made to temporarily suspend the production of direct shipping ore at the Nullagine joint venture operation,” the firm said in a statement.
The operation is a joint venture between BC Iron and Fortescue Metals. BC’s shares were halted on Thursday ahead of the announcement.
Elsewhere in Asia, China’s Shanghai Composite index was down 0.82% at 3,427.04, while Hong Kong’s Hang Seng was down 0.44% at 21,609.78.
In South Korea, the benchmark Kospi index was down 0.12% at 1,949.69.
