After morning-session jitters, Asian stock markets largely rallied on Friday, closing higher on the larger-than-expected European Central Bank stimulus package, and strong oil prices. Tokyo rose on a weaker yen, while a move by the mainland People’s Bank of China to boost the yuan buoyed sentiments in Hong Kong. The Nikkei 225 rose 0.51%, as traders took belated afternoon-session courage from the ECB expansionist policies, and also a weaker yen, considered a positive in export-oriented Japan. The broad measure Nikkei 225 rose 86.52 to 16,938.87, as gaining issues outnumbered losers 149 to 69. Leading the upside were designer-builder Sekisui House (SKHSY, 1928:Tokyo), up 4.57%; followed by bank-group Resona Holdings (RSMHF, 8308:Tokyo), up 4.12%; and then Shinsei Bank (SKLKF, 8303:Tokyo), up 4.11%. On the downside were department-store chain Takashimaya (TKSHF, 8233:Tokyo), off 5.20%; and then utility Kansai Electric (KAEPF, 9503:Tokyo), down 4.06%. The Nikkei 225 is down 11.01% YTD. The Hong Kong Hang Seng Index budged up 1.08%, as traders embraced a move by the mainland People’s Bank of China to raise the exchange rate of the yuan, saw strong oil prices, and reviewed the ECB package. The broad gauge Hang Seng rose 215.18 to 20,199.60, as gaining issues outnumbered losers 44 to six. Leading the upside were state conglomerate CITIC (267:HK), up 9.22% despite Thursday revealing it likely will take a $1.5 billion to $1.7 billion write down on its Sino Iron project in Australia. China Resources Beer (291:HK), up 3.71%; and then Macau gaming house Galaxy Entertainment (27:HK), up 2.26%. On the downside were shoe-retailer Belle International (1888:HK0, off 7.92%; and then noodle-maker Tingyi Cayman (322:HK), off 2.09%. The Hang Seng is off 7.82% YTD. On the mainland the Shanghai Stock Exchange Composite Index rose 0.20% to 2,810.31. The index is off 20.59% YTD. On other exchanges, the S. Korean Kospi rose 0.11% and is in the black for the year; the Taiwan TWSE rose 0.52%; in Mumbai the Sensex inclined 0.38%; the Singapore Straits Times index gained 0.70%; the Thai Set rose 1.01% and is up 8.18% YTD; and the resource-heavy Australian S&P/ASX 200 rose 0.32%. The ETF decreased 0.40% or $0.07 on March 10, hitting $17.46. It is down 11.51% since August 5, 2015 and is downtrending. It has underperformed by 6.26% the S&P500. Precidian ETFs Trust - Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

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