Nikkei:10,557.10 (+38.12) Hang Seng:24,419.63 (+265.64) Shanghai Comp:2,759.26 (+50.28)
THE NIKKEI average rose for a third straight session yesterday, inching towards recent eight-month highs as a mostly upbeat start to the US earnings season lifted expectations for Japanese firms to show further recovery.
The textile sector did best. Toray Industries, Japan's largest maker of synthetic fibres, jumped 4.7 per cent to 556 yen, and Teijinsurged 6.6 per cent to 421 yen, becoming the biggest percentage gainer among the Nikkei 225 components.
Non-ferrous metals smelters were also among the Nikkei's top gainers, with the sector index adding 2.5 per cent as copper hovered near record highs on a weaker dollar. Sumitomo Metal Mininggained 4.9 per cent to 1,456 yen, and Dowa Holdingsclimbed 5.2 per cent to 592 yen.
Shares in China and Hong Kong rose as investors scooped up companies most likely to benefit from a recovery in the global economy.
Heavy buying was seen in PetroChina, up 1.3 per cent, and China Petroleum & Chemical Corp(Sinopec), up 3.9 per cent.
China Mobilerose by 2.8 per cent and was the second biggest boost to the Hang Seng index on the day. – (Reuters)
