Nikkei: 8,668.86 (+150.29) Hang Seng: 19,181.50 (+136.06) Shanghai Comp: 2,479.05 (–5.77)ASIAN EQUITIES index bounced back yesterday, with the region's financial shares in demand after reassurance from France and Germany that Greece will remain in the euro zone eased nerves.
Banking stocks across the region made progress as traders fears of a potential default in Athens cooled.
Australia’s Macquarie rose 1 per cent in Sydney to A$21.45, Mitsubishi UFJ Financial, Japan’s largest publicly traded lender, rose 1.5 per cent to ¥330.
Industrial Commercial Bank of China gained 0.9 per cent to HK$4.68.
Chinese insurers were boosted by higher premium incomes with China Life, the country’s biggest insurer by market value, up 2.8 per cent at HK$18.96 and PICC Property Casualty, a non-life insurer, 3.4 per cent higher at HK$12.18.
As risk appetite improved, exporters looked undervalued after the recent heavy selling. Sony rose 0.8 per cent to ¥1,513. Foxconn International added 1.2 per cent to HK$4.11.
South Korea’s Hynix Semiconductor rose 6.3 per cent to Won21,100. – (Copyright The Financial Times Limited 2011)
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