Nikkei: 9,354.32 (+2.92) Hang Seng: 21,599.51 (–95.75) Shanghai Comp: 2,622.63 (–20.19):THE NIKKEI 225 outperformed its neighbours yesterday, helped by demand for power utilities on signs from the government that mothballed reactors could soon return to production.
Banri Kaieda, Japan’s trade minister, said that all of the country’s 54 reactors were deemed to have adequate safety measures in place after inspections.
It sparked gains across the sector. Chubu Electric Power rose 7.9 per cent to ¥1,440. Kansaim Electric Power was 7.7 per cent higher at ¥1,420 while Tokyo Electric Power added 4 per cent to ¥314.
The prospect of an end to sporadic power shortages helped cheer industrial stocks and exporters. Olympus rose 4.3 per cent to ¥2,787. Mazda Motor was 2.1 per cent higher at ¥199.
Hong Kong’s Hang Seng fell to its lowest level since September.
Cheung Kong, a property investment vehicle controlled by Li Ka-shing, fell 3.8 per cent to HK$109.2.
The Shanghai Composite fell 0.8 per cent. Samsung Electronics, was down 2.3 per cent at Won800,000 ahead of its quarterly earnings report. – (Copyright The Financial Times Limited 2011)
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