Nikkei: 9,819.09 (+18.83) Hang Seng: 22,398.10 (+336.92) Shanghai Comp: 2,763.08 (+33.59):ASIAN SHARES extended their gains yesterday, as riskier banking and resources stocks got their first chance to react to news that Greece had approved austerity measures.
With the threat of an imminent sovereign debt default becoming more remote relieved traders bought financial stocks.
HSBC rose 1.1 per cent to HK$77.05 in Hong Kong while China’s Bank of Communications added 1.8 per cent to HK$7.45. Commonwealth Bank of Australia gained 1.8 per cent to A$52.30 while Mitsubishi UFJ Financial rose 2.1 per cent to ¥390 in Tokyo.
Resource stocks were higher on the back of gains in crude oil prices. BHP Billiton rose 1.5 per cent at A$43.80 in Sydney.
Cnooc, China’s largest offshore oil exporter by sales, jumped 1.8 per cent to HK$18.16 and Chalco added 2.5 per cent to HK$6.56.
The region’s exporters extended gains with Sony up 3 per cent to ¥2,117 in Tokyo.
But Samsung Electronics fell 0.8 per cent to Won826,000 and Hynix Semiconductor lost 2 per cent to Won25,050. – (Copyright The Financial Times Limited 2011)
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