Nikkei:9,641.18 (+85.92) Hang Seng:24,135.03 (+158.16) Shanghai Comp:3,050.40 (+27.07)
ASIAN SHARES leapt in afternoon trade yesterday to finish on a strong note after Japanese carmakers were buoyed by an upbeat earnings forecast from Nomura.
The gains came after Tuesday’s sharp falls, which were partly down to Goldman Sachs providing an excuse for profit-taking when it made a short-term bearish call on oil and copper, the industrial bellwethers.
Toyota, the world’s largest carmaker, added 1.4 per cent to Y3,285, while Honda, Japan’s second-largest carmaker by market value, rose 3.3 per cent to Y2,957.
Shares of oil and gas developers continued to be hit by profit-taking after Goldman’s Tuesday call.
Inpex, Japan’s largest oil and gas developer, shed 1.6 per cent to Y610,000, while Japan Petroleum Exploration lost 2 per cent to Y3,930.
The Nikkei 225 Average climbed 0.9 per cent to 9,641.18.
Hong Kong and China stocks made useful gains, lifting the Hang Seng index 0.7 per cent to 24,135.03 and the Shanghai Composite 1 per cent to 3,050.4. –
Copyright The Financial Times Limited 2011.
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