Tokyo higher as weaker yen helps boost exporters

Nikkei: 10,725.54 (+110.89) Hang Seng: 23,121.06 (+292.14) Shanghai Comp: 2,898.97 (+71

Nikkei: 10,725.54 (+110.89) Hang Seng: 23,121.06 (+292.14) Shanghai Comp: 2,898.97 (+71.54)ASIAN MARKETS had a strong session yesterday, as an easing of concerns over Egypt helped to calm investor nerves.

Encouraging economic releases from across the region further improved the mood.

Tokyo stocks hit fresh nine-month highs as exporters were helped by the weaker yen. Toyota Motor rose 2.5 per cent to ¥3,870 and Nissan Motor rose 1.4 per cent to ¥880.

In Hong Kong, commodity shares were in the spotlight with China Coal Energy up 3.7 per cent to HK$11.34 and PetroChina gaining 2.5 per cent to HK$10.58. The Hang Seng index climbed 1.3 per cent to 23,121.06.

Satyam Computer Services rose 12 per cent to Rs64.60 after reporting a third successive quarterly profit, while Larsen Toubro, an engineering company, soared 6.7 per cent to Rs1,660.15 after winning a new order worth Rs11 billion.

In Seoul, technology and chemical shares gained ground on bargain-hunting. LG Electronics jumped 4.7 per cent to Won121,500, Samsung Electronics rose 4.2 per cent to Won953,000. – (Copyright The Financial Times Limited 2011)

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