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Baby boom boost: These Asia stocks are up on China ruling

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China's Communist Party is hoping for a new baby boom in the economy and on the stock market with its announcement Thursday that it would allow couples to have two children, overturning the one-child policy introduced in 1979.

As well as helping solve the demographic problems of an ageing population, the move could prove a boon for a raft of companies across Asia.

Here's some of the businesses that have already taken baby steps up the stock indexes.

  • Japanese baby bottle maker Pigeon jumped more than 10 percent on Friday to its highest level since the end of August.
  • Tokyo-listed toiletry goods maker Kao, whose Merries diapers are popular in China, rose 3.7 percent to its highest level since mid-August.
  • Unicharm, which makes diapers, saw its shares in Japan jump 5 percent.
  • In Hong Kong, shares of baby stroller maker Goodbaby International and diaper maker HengAn International jumped 8.9 percent and 3.3 percent respectively.
  • Skin care products maker China Child Care, formerly Prince Frog, gained 17.3 percent.
  • Chinese shares of infant formula maker Biostime International rose 11.8 percent, milk powder maker Yashili International surged 9.6 percent and dairy products maker China Mengniu Dairy also climbed 6.7 percent.

However one Asian company has failed to rise to the occasion.Shares in Japanese condom-makerOkamoto Industries have fallen 5 percent during Tokyo trading Friday after China scrapped the decades-long policy.

- Reuters contributed to this report.