Nikkei: 10,624.09 (+97.33) Hang Seng: 23,338.02 (+325.65) Shanghai Comp: 2,905.46 (+26.89):ASIAN MARKETS rise for a second session yesterday, as fears over oil prices eased while Chinese stocks sealed their first monthly gains since October on hopes Beijing will not damage growth in its fight against inflation.
Sany Heavy Industry surged to a record high after Beijing said it planned to build 36 million affordable homes in the next five years.
China’s biggest maker of machinery for handling concrete jumped 8.5 per cent to Rmb25.20. Huaxin Cement, the Chinese affiliate of Switzerland’s Holcim, rose 3 per cent to Rmb40.19.
Hong Kong’s Hang Seng index was up 1.4 per cent. HSBC gained 1.5 per cent to HK$90.40 but the bank’s earnings released after the Asia close disappointed the London market. Aluminum advanced 3.2 per cent to HK$7.69 and Yue Yuen rose 1.9 per cent to HK$24.50.
Honda gained 0.1 per cent to ¥3,545 in Tokyo while Sony climbed 0.9 per cent to ¥2,993, erasing a 1.9 per cent loss earlier.
Mizuho rallied 1.8 per cent to ¥168 amid speculation that Japan’s third-biggest bank is planning to make several units wholly owned subsidiaries. – (Copyright The Financial Times Limited 2011/ Bloomberg)
