Nikkei: 10,478.66 (+76.76) Hang Seng: 23,779.62 (–63.62) Shanghai Comp: 2,748.69 (+39.88)ASIAN SHARES rose yesterday for the fourth straight day, as upbeat data on US new home sales fuelled hopes for a global economic recovery.
Sentiment had brightened after the US Federal Reserve said it would continue with its controversial $600 billion bond purchase programme to support the economy.
In Tokyo, Canon, the world’s largest camera maker, rose 2.2 per cent to ¥4,195; Sony added 1.7 per cent to ¥2,914, while Sharp gained 0.9 per cent to ¥877. Expectations for robust earnings boosted Fanuc 4.6 per cent to ¥13,250 and Kyocera by 1.9 per cent to ¥8,480.
In Seoul, shipbuilders continued to gain ground on signs of increasing overseas orders. Samsung Heavy Industries rose 1.6 per cent to Won43,700, while Daewoo Shipbuilding Marine Engineering rose 2.9 per cent to Won42.300.
In Sydney, trading was still subdued after Wednesday’s national holiday. Rio Tinto, the world’s third-biggest mining company, gained 0.9 per cent and BHP Billiton was up 0.3 per cent on higher metal prices. – (Copyright The Financial Times Limited 2011)
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