Nikkei:9,972.46 (+7.37) Hang Seng:22,747.95 (–22.52) Shanghai Comp:2,816.35 (+3.54)
THE NIKKEI stock average eked out a tiny gain yesterday, extending its rally to a sixth session helped by hopes of a slowly improving economic outlook.
The Osaka Securities Exchange, Japan’s second largest bourse, jumped 8 per cent on a report the Tokyo Stock Exchange has proposed a tender offer as the two proceed in merger talks.
Cellphone maker Uniden surged 8.1 per cent in its heaviest trade in recent years after Bank of America Merrill Lynch started its coverage at “buy” with a target price of 430 yen.
Fast Retailing fell 1.7 per cent after its June sales rose less than the market expected, triggering profit-taking in the shares. Hopes had been high for the operator of the Uniqlo casual clothing chain.
Hong Kong shares edged lower with gains in Chinese property stocks limiting losses in financial plays. Chinese Resources Land and Chinese Overseas Land and Investment were the top two gainers among Hang Seng index constituents, up 3.4 and 2.8 per cent respectively.
A late rally helped the Shanghai Composite index cut early losses to finish up 0.13 per cent at 2,816.35. – (Reuters)
