Nikkei: 9,648.98 (+70.67) Hang Seng: 22,061.78 (+20.01) Shanghai Comp: 2,759.95 (+1.74):JAPANESE STOCKS rose with retailers coming into focus yesterday after an unexpectedly strong bounce in consumer spending following March's earthquake.
J Front Retailing, a supermarket and department store operator, led the pack, gaining 4.5 per cent to ¥350.
Rival Takashimaya gained 2.1 per cent to ¥547, its third successive daily rise since lifting its first-half profit forecast on Friday.
Nippon Steel climbed 2 per cent to ¥253 after it agreed with car maker Nissan Motors to a 15 per cent price rise over the six month period to the end of September for sheet steel. Shares in Nissan fell 2.4 per cent to ¥825.
South Korea’s Kospi Composite, finished the session 0.4 per cent lower at 2,062.91 as technology stocks fell.
CJ Group trumped a joint offer from Posco and Samsung with its $1.85 billion bid, but the Korea Express shares tumbled because investors had expected more business to result from a Posco-Samsung partnership. CJ Corporation fell 9.9 per cent to Won73,000. – (Copyright The Financial Times Limited 2011)
