Nikkei: 8,522.02 (+139.04) Hang Seng: 17,172.28 (+922.01) Values at yesterday's close:ASIAN STOCKS rose for the first time in five days yesterday, as better-than-expected US economic data and optimism European leaders will contain the region's debt crisis boosted the earnings outlook for exporters.
“The market is a bit more optimistic about prospects for European policy makers to find a solution, particularly with the solvency of European banks,” said Tim Schroeders, who helps manage $1 billion in equities at Pengana Capital in Melbourne.
HSBC, Europe’s biggest lender by market value, gained 4.7 per cent to HK$59.30 in Hong Kong, while National Australia Bank, the nation’s largest lender to businesses, surged 5 per cent to A$22.87 in Sydney.
Sony advanced 4.7 per cent to ¥1,470 in Tokyo.
Li Fung, a supplier of clothes and toys to Wal-Mart, rose 4.3 per cent to HK$12.08 in Hong Kong.
Cathay Pacific climbed 6.9 per cent to HK$12.70, while in Sydney, James Hardie rose 8.2 per cent to A$5.84.
Samsung Electronics rose 1.5 per cent to 855,000 won in Seoul and LG Electronics surged 6.3 per cent to 73,900 won. – (Bloomberg)
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