ASIA REPORT: Nikkei:10,345.11 (+70.59) Hang Seng:23,801.78 (–75.08) Shanghai Comp:2,696 (–19.57)
ASIAN STOCKS rose yesterday, boosting the benchmark index for the first time in three days after brokerages increased investment ratings and companies reported higher earnings.
Honda Motor, Japan’s second-biggest automaker by market value, climbed 3.8 per cent in Tokyo after Nomura Holdings boosted its recommendation, and Toyota gained 1.3 per cent to ¥3,415.
Honda and Toyota were the biggest supports for the MSCI Asia Pacific Index.
Fuji Heavy Industries, the maker of Subaru-brand cars, advanced 1.3 per cent to ¥690 in Tokyo.
Yaskawa Electric added 4.5 per cent to ¥867 after the maker of electronic controls reported fiscal nine-month net income of ¥4.32 billion, compared with a loss the previous year.
In Sydney, Asciano rose 3.6 per cent to A$1.59 after JPMorgan Chase raised the transport-infrastructure company’s rating.
In Seoul, S-Oil climbed 4.1 per cent to 97,500 won.
Harvey Norman Holdings, Australia’s largest furniture and electrical retailer, lost 0.3 per cent to A$3.14. – (Bloomberg)
