Nikkei: 9,662 (+95.06) Hang Seng: 23,011.14 (+110.06) Shanghai Comp: 2,873.50 (+19.98)ASIAN STOCKS broke a four-day losing streak, lifted by a recovery in sentiment in Tokyo as deal talk and more upbeat signs of a post-earthquake repair of supply chains cheered investors.
The FTSE Asia-Pacific index climbed 1 per cent to 261.21, rebounding from Tuesday’s six-week lows.
Renesas Electronics, the chipmaker that supplies the country’s carmakers, leapt 5.8 per cent to Y744 after a report that it will resume operations at a plant damaged by the March 11th earthquake.
Financials also enjoyed a strong session on talk that Mizuho Financial, Japan’s third-biggest publicly traded lender, will merge its retail and corporate banks by 2013.
Mizuho climbed 3.2 per cent to Y131 yen, Mitsubishi UFJ Financial, Japan’s largest bank, rose 2.4 per cent to Y386 and Sumitomo Mitsui Financial, the second-biggest, increased 3.5 per cent to Y2,464.
In Hong Kong, the Hang Seng index gained 0.5 per cent to 23,011.14 on strength for developers and resource stocks, while the Shanghai Composite index was lifted 0.7 per cent to 2,873.50. – (Reuters)
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