Nikkei: 10,401.90 (–62.52) Hang Seng: 23,843.24 (+54.41) Shanghai Comp: 2,708.74 (+31.31)SHANGHAI STOCKS rebounded from four-month lows and Seoul jumped by the most in six weeks yesterday as Asian markets benefited from a third session of gains on rising optimism over growth.
China Southern Airlines, the nation’s biggest airline, surged 3.6 per cent to Rmb8.45 while Cosco Shipping, a unit of China’s biggest shipping company, rose 3.6 per cent to Rmb8.05.
CSR, the trainmaker, climbed 3.6 per cent to Rmb8.62 after reports that it had signed a technology deal with US heavyweight General Electric.
China Gezhouba, builder of the Three Gorges Dam, climbed 6.2 per cent to Rmb13.28 .
Seoul’s Kospi index rose 1.1 per cent to 2,110.46 on gains for carmakers and chipmakers with sentiment buoyed by South Korea’s robust growth figures.
Hyundai, the country’s biggest carmaker, jumped 4.2 per cent to Won197,500 ahead of its earnings announcement, while Hynix Semiconductor gained 2.9 per cent to Won28,200. But LG Electronics, the world’s third-biggest maker of mobile phones, slipped 0.8 per cent to Won121,000. – Copyright The Financial Times Limited 2011
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