HONG KONG-- Japan's Nikkei average led a region-wide advance Thursday as investors sought blue-chips such as Toyota Motor Corp. and Canon Inc. after the Dow industrials climbed to a second consecutive record-high close.
The Nikkei average of 225 companies was up as much as 1.6% in the afternoon session to 16,309.3. The Tokyo Stock Price Index, or Topix, rose 1.1% to 1,618.9.
Elsewhere around the region, Taiwan's leading share index climbed 1.4% to 6,970.6. Australia's S&P/ASX 200 was up 1.2%. Singapore's Straits Times Index advanced 0.8%. Malaysia's leading share index was up 0.4%, while Indonesia's Jakarta Composite traded flat.
Markets in China and South Korea were closed.
Hong Kong's Hang Seng Index (HK:1804580: news, chart, profile) was up 1.2% to 17,845.2.
"You are now getting to the state where people are momentum playing," said Andrew Sullivan, head of sales trading at Daiwa Securities SMBC in Hong Kong. "The market is currently trading only 150 points short of the 18,000 level...if it tests up to that sort of level you are likely to see some big trading blocks come through looking for laggards and just buying the whole of the market up."
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