Nikkei: 10,132.11 (+121.72) Hang Seng: 22,444.80 (+457.51) Shanghai Comp: 2,770.79 (+40.87)ASIAN EQUITY investors were cheered by the latest attempts to address the sovereign debt crisis in Europe, helping most indices notch up weekly gains.
A worrying development for Chinese stocks was that volume appeared to be stalling.
No such concerns hampered Hong Kong’s advance this week. Esprit Holdings, a fashion group that makes much of its sales in Europe, climbed 11.5 per cent over the week to HK$24.15.
Cnooc, China’s biggest offshore oil producer by sales, fell 3.3 per cent on the week to HK$17.32 after agreeing to acquire bankrupt Calgary based oil sands producer OPTI Canada for $2.1 billion including debt.
Seoul stocks were broadly higher.
Shares in Hyundai Heavy fell 9.8 per cent over the week to Won417,500. Rivals also fell, with Samsung Heavy Industries down 5 per cent to Won44,650 and Daewoo Shipbuilding Marine Engineering off 3.9 per cent to Won39,700.
LG Display shares were up 4.4 per cent at Won29,450 thanks to strength early on in the week. – (Copyright The Financial Times Limited 2011)
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