Nikkei:9,797.26 (+148.28) Hang Seng:22,061.18 (–0.60) Shanghai Comp:2,728.48 (–30.72)

JAPAN LED a broad Asian rally yesterday as global risk appetite improved, with Tokyo stocks boosted by further evidence the country was bouncing back strongly after March’s earthquake and tsunami.

Exporters, particularly of electrical goods and components led the rally. Panasonic rose 2.6 per cent to ¥980 after it said it was to restructure its Sanyo subsidiary.

Robot maker and factory automation group Fanuc jumped 3.6 per cent to ¥13,430 on reports it was poised to boost output and raise revenue targets.

Power companies surged on hopes that they may be exempted from contributing to the government’s compensation scheme for victims of the crisis at the Fukushima nuclear plants.

Chubu Electric Power climbed 4 per cent to ¥1,533 and Tohoku Electric Power surged 6.3 per cent to ¥1,141. Tepco was up 2.9 per cent to ¥325.

Energy producers advanced after oil prices increased. JX Holdings, Japan’s largest oil refiner, gained 1.9 per cent to ¥527.

Cnooc, China’s largest oil producer, added 1.7 per cent to HK$17.80. – (Copyright The Financial Times Limited 2011)