Nikkei: 8,879.60 (+131.64) Hang Seng: 18,873.99 (+370.20) Shanghai Comp: 2,440.40 (+9.03):HONG KONG shares finished higher yesterday, led by beaten down Chinese companies, but strength in defensives and turnover near the lowest in three weeks suggests investors remain wary ahead of China GDP data due on Tuesday.
The Hang Seng Index closed up 2.01 per cent at 18,873.99. The China Enterprises Index of top Chinese companies listed in Hong Kong finished up 2.8 per cent at 9,853.34.
The Shanghai Composite Index closed up 0.37 per cent at 2,440.4 led by financials and energy stocks, but A-share turnover was sluggish.
The Nikkei average rose to a six-week high, helped by hopes for corporate earnings and expectations that Europe will come up with a plan to contain its debt crisis, though some market players expect the rally to run out of steam soon.
Shares in Olympus plunged for a second day as the shock dismissal of its CEO widened into corporate governance concerns. The stock has lost 37 per cent since Thursdays close, wiping out $3.2 billion in market value from the Japanese precision instrument and camera maker. – (Reuters)
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