Nikkei: 9,562 (+ 139.17) Hang Seng: 22,901 (+ 153.51) Shanghai Comp: 2,735 (- 6.53):ASIA STOCKS rose, driving the regional benchmark index to its best performance in a month, as raw material producers increased after oil and copper prices rallied.
Rio Tinto Group, the world’s second-biggest mining company by sales, climbed 1.9 per cent. Bigger rival BHP Billiton Ltd advanced 2.2 per cent after Deutsche Bank AG upgraded basic resources to “overweight” and named BHP among its top picks.
Canon Inc, the world’s largest camera maker, jumped 5.8 per cent on its plan to buy back shares. Ricoh Co, a Japanese office equipment maker, surged 4.1 per cent after announcing job cuts.
Japan’s Nikkei 225 Stock Average advanced 1.5 per cent. Hong Kong’s Hang Seng Index added 0.7 per cent, while China’s Shanghai Composite Index declined 0.2 per cent.
South Korea’s Yoosung Enterprise Co, the supplier of auto parts to Hyundai Motor Co and Kia Motors Corp, surged 15 per cent to 4,575 won. The company resumed production yesterday after police broke up a week-long strike at its plant that disrupted production at South Korea’s largest automakers. – (Bloomberg)
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