Nikkei: 10,693.66 (+107.66) Hang Seng: 23,408.86 (+286.44) Shanghai Comp: 2,942.17 (+39.19):ASIAN SHARES extended gains yesterday, paced by heavy fuel users, as easing oil prices and a positive outlook toward US economic data raised investors' spirits.
Cathay Pacific Airways rose 2 per cent to HK$18.62, while China Southern Airlines was 3 per cent higher to HK$3.83.
In Tokyo, Sumitomo Electric Industries rose 8.1 per cent to ¥1,259 after the Nikkei newspaper reported that the company had developed a new rechargeable battery.
Konica Minolta gained 4.2 per cent to ¥768 after the newspaper said it had clinched a large deal to supply office equipment to Allianz, the German insurance group.
In Sydney, resources stocks were higher with BHP Billiton up 1.5 per cent to A$47.3 on strong copper prices. Financials were generally firm but QBE Insurance lost 2.2 per cent to A$17.6 as the stock traded ex-dividend.
Sentiment in Seoul was brighter with builders rebounding on easing concerns over losses due to halted building work in Libya.
Hyundai Engineering Construction rose 2.7 per cent to Won78,200. In Shanghai, Baoshan Iron Steel advanced 2 per cent to Rmb7.07. – (Copyright The Financial Times Limited 2011)
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