Nikkei:9,708.79 (+249.71) Hang Seng:23,451.43 (+391.07) Shanghai Comp:2,955.77 (–2.30)
ASIAN SHARES rebounded yesterday, as a weaker yen lifted Japanese exporters and operations appeared to be normalising at some quake-stricken plants.
Nissan Motor, Japan’s second-largest car maker, rose 3.8 per cent to ¥731 as it expects operations at its Japanese factories to return to normal by the end of June.
Tepco shares dropped a further 17.7 per cent to a fresh low of ¥466 after plunging 18.7 per cent on Tuesday amid growing speculation that the company could be nationalised.
In Sydney, resource stocks were lifted by higher metal prices and merger and acquisition talk.
Takeover target Riversdale Mining rose 2.1 per cent to a two-month high of A$16.44 after Rio Tinto said its A$4 billion offer was free of conditions. Rio, which owns 41 per cent of Riversdale, climbed 2.4 per cent to A$84.28 .
Qantas rose 1.9 per cent to A$2.19 after announcing restructuring steps that include cutting flights to disaster-hit Japan and New Zealand.
Hong Kong was lifted by property group Hutchison Whampoa, which surged 5.1 per cent to HK$93.50. – (Copyright The Financial Times Limited 2011)
