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Asia: Easing economy fears give boost
Wed, 08 Feb, 2012
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Asia: Easing economy fears give boost
Thu, 2 Sep 2010, 08:03:00
Japanese stocks rallied on Thursday as investors regained confidence in the global economy following yesterday's manufacturing reports from China and the US. The Nikkei index rose 135 points, or 1.5%, to 9,062, with most exporters, including Sony, Canon and Honda, up as a healthy global economy is good for business. Traders point out that domestic institutional investors and buyers from overseas are making the most of bombed-out stocks, down at a 16-month low earlier this week. But news that Sawai Pharmaceutical wants to raise 30 billion yen had shares in the generic drugmaker down over 11%. There were big gains in Hong Kong where the Hang Seng added 202 points, or 1%, to 20,826. HSBC and Bank of China were in demand, while oil prices back up around $74 a barrel was good for PetroChina and CNOOC. China's second largest Ping An is much higher as it trades for the first time in two month. The firm will get control of Shenzhen Development Bank by buying a $4.3bn stake.
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