Nikkei: 8,926.54 (+178.07) Hang Seng: 19,688.70 (+622.16) Shanghai Comp: 2,435.61 (+8.13)ASIAN STOCKS climbed strongly yesterday, as European leaders in Brussels reached a deal to reduce Greek debt, while investors in Tokyo reacted warmly to efforts to boost growth from the Bank of Japan.
The Nikkei 225 Average gained 2 per cent after the central bank announced an extension of its asset purchase scheme.
Banks were among the best performers after news of Europe’s debt plan and the Bank of Japan’s monetary easing.
Shinsei Bank climbed 4.8 per cent to ¥88, while Mitsubishi UFJ Financial added 5.7 per cent to ¥350 and Sumitomo Mitsui Financial gained 5.1 per cent to ¥2,234.
Olympus was the heaviest-traded stock by turnover, surging 23.3 per cent to ¥1,355. Sony rose 5.4 per cent to ¥1,650 after it agreed to buy out its Swedish partner’s share of the Sony-Ericsson smart phone joint venture.
Agricultural Bank of China rose 6.6 per cent to HK$3.55 after reporting an above-consensus 40 per cent jump in third-quarter net profit. In Seoul, Hynix Semiconductor lost 1.5 per cent to Won23,800. – (Copyright The Financial Times Limited 2011)
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