Building stocks climb on hope of Japanese orders

Nikkei: 9,536.13 (+101.12) Hang Seng: 23,158.67 (+243.39) Shanghai Comp: 2,977.81 (+31.10)

ASIAN STOCKS rose yesterday, set for the biggest weekly gain since November, as construction firms gained on optimism for orders when Japan rebuilds after its worst earthquake, and amid signs the US economy is strengthening.

Komatsu, Japan’s largest maker of construction machinery, climbed 4.7 per cent to ¥2,795.

Comsys Holdings surged 6.3 per cent to ¥827. Daisue Construction jumped 4.1 per cent to ¥102.

Toyota Motor car makers advanced 1.9 per cent to ¥3,275.

Rio Tinto, the world’s top mining company by sales, gained 0.5 per cent to A$82.02 in Sydney on optimism demand for raw materials will climb as a global economic recovery strengthens.

Mitsubishi, Japan’s biggest commodities trader, added 1.9 per cent to ¥2,310.

Woodside Petroleum rose 2.6 per cent to A$46.72 in Sydney amid speculation the oil and gas producer may arrange an assets-for-shares swap with its biggest stockholder, Royal Dutch Shell.

Bank of China rose 2.6 per cent to HK$4.27 in Hong Kong. – (Bloomberg)