Nikkei: 9,849.74 (+157.90) Hang Seng: 23,805.63 (–87.21) Shanghai Comp: 2,887.67 (–37.74)TOKYO STOCKS reached their highest level yesterday since last month's devastating earthquake and tsunami, as the trend for strong corporate earnings continued to lift sentiment.
Japan’s Nikkei 225 average jumped 1.4 per cent as investors shrugged off a record 15.3 per cent fall in Japan’s industrial output in March.
But Sony bucked the trend, falling a further 4.5 per cent to ¥2,260, as it continued to face criticism after personal data of more than 70 million users of its PlayStation online gaming network were stolen.
South Korea’s Kospi Composite rose 0.1 per cent to 2,208.35 as car makers and electronics companies extended gains. Hyundai Motor rose 7.3 per cent to Won250,500. It reported a 47 per cent rise in first-quarter profit. LG Electronics jumped 1.9 per cent to Won107,000 on expectations of a turnaround in the second quarter.
Commonwealth Bank of Australia added 1.1 per cent to A$53.66.
China’s Shanghai Composite index fell 1.3 per cent to 2,887.0. Anhui Conch Cement fell 6 per cent to Rmb37.01. – (Copyright The Financial Times Limited 2011)
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