Asia stocks mixed; Nikkei ends up 1.2% on BoJ easing hopes

Investing.com - Asian stock markets were mixed during late Asian trade on Thursday, as concerns over China’s economic outlook weighed on appetite for growth-linked assets.

Shares in Tokyo bucked the regional trend amid ongoing hopes for more aggressive monetary stimulus from the Bank of Japan under new central bank chief Hirahiko Kuroda.

During late Asian trade, Hong Kong's Hang Seng Index eased down 0.2%, Australia’s ASX/200 Index ended 1.2% lower, while Japan’s Nikkei 225 Index closed up 1.2%.

In Hong Kong, the Hang Seng was down sharply earlier in the session, hitting a three-month low, as market players remained concerned over the economic outlook for the world’s second largest economy.

Property developers were among the biggest drags on the index, amid renewed government efforts to control the property market. Sino Land saw shares drop 1% while Sun Hung Kai Properties lost 2.9% and Henderson Land Development declined 2.8%.

Meanwhile, in Australia, the benchmark ASX/200 Index fell to a one-week low as miners were among the biggest decliners, tracking metal prices lower.

Rio Tinto and BHP Billiton dropped 1.4% and 1.5% respectively, while iron ore producer Fortescue Metals Group tumbled 6.2%.

Market participants shrugged off stronger-than-expected Australian jobs data released earlier in the day, as it reduced expectations for further rate cuts by the Reserve Bank of Australia.

Government data showed that the nation’s employers added 71,500 jobs in February, the biggest increase in a decade and blowing past expectations for a gain of 9,000.

Elsewhere, in Tokyo, the Nikkei advanced for the first time in three days after Japan’s lower house approved Prime Minister Shinzo Abe’s choice for central bank governor, Haruhiko Kuroda.

The benchmark index has rallied nearly 18% since the start of the year to hit the highest level since September 2008, as expectations for more aggressive monetary stimulus from the Bank of Japan under new chief Hirahiko Kuroda underpinned sentiment.

Real estate developers were the biggest gainers on the index as the property sector is among those that would benefit strongly from the BoJ’s deflationary policies.

Mitsui Fudosan saw shares jump 5.3%, while Sumitomo Realty & Development rose 3.9%.

Looking ahead, European stock market futures pointed to a higher open, as signs of a strong economic recovery in the U.S. supported sentiment.

The EURO STOXX 50 futures pointed to a gain of 0.2% at the open, France’s CAC 40 futures added 0.2%, London’s FTSE 100 futures eased up 0.1%, while Germany's DAX futures pointed to a rise of 0.2% at the open.

Later in the day, European Union leaders were to hold the first day of a two day economic summit.

The U.S. was to release government data on producer price inflation and the weekly government report on initial jobless claims.