Nikkei: 8,763.41 (+172.84) Hang Seng: 20,048 (+337.50) Shanghai Comp: 2,516.09 (+45.57):ASIAN SHARES surged yesterday, breaking a three-day losing streak, as expectations of a weakening yen lifted Japanese exporters.
Technology shares and commodity producers gained ground on bargain hunting.
Australian banks and miners led the Sydney exchange higher.
Aquila Resources, rose 6.7 per cent to A$6.03 after positive results from a feasibility study on a coking coal project in Queensland.
National Australia Bank gained 3.6 per cent to A$22.94 on reports that NBNK Investments was in talks to buy the Australian lender.
Japan’s Nikkei 225 Stock Average rose 2 per cent.
Honda, which gets more than 80 per cent of its revenue abroad, gained 1.6 per cent to ¥2,376 and Mazda rose 3.4 per cent to ¥152. Sony gained 3.2 per cent to ¥1,570.
South Korea’s Kospi Composite jumped 3.8 per cent helped by car makers after Hyundai announced plans to expand its European market share. Hyundai climbed 3.6 per cent to Won199,000, while Kia rose 3.3 per cent to Won69,400. – (Copyright The Financial Times Limited 2011)
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