Nikkei: 8,755.4 (+99.93) Hang Seng: 20,014.43 (+335.96) Shanghai Comp: 2,524.92 (+21.08)ASIAN STOCKS rose for the first time in three days yesterday.
Financial stocks were the biggest contributors to the MSCI Asia Pacific Index’s advance after China reported inflation at the slowest pace in five months.
In Hong Kong, ICBC, China’s biggest lender, climbed 3.6 per cent. China Construction Bank, the second-largest, gained 1.6 per cent and Agricultural Bank of China rose 1.9 per cent.
Cnooc, China’s biggest offshore oil producer, jumped 4 per cent and Glencore, the world’s largest commodities trader, closed up 3.1 per cent.
In Sydney, Australian banks rose after home-loan approvals rose more than forecast in September, the sixth straight monthly gain, as more first-time buyers entered the market.
Westpac gained 1.3 per cent, ANZ Banking rose 0.8 per cent and National Australia Bank added 1.3 per cent. BHP rose 1.5 per cent to A$38.33.
In Tokyo, Olympus plunged 20 per cent to ¥584, the most on the Asian gauge. The Tokyo Prosecutor’s Office is investigating the maker of optical equipment on suspicion the company broke securities laws. – (Bloomberg)
