Nikkei: 8,823.25 (+84.35) Hang Seng: 18,757.81 (+428.3) Shanghai Comp: 2,438.79 (+18.79)ASIAN SHARES were boosted yesterday, as South Korean stocks rose on hopes for the passage of a free trade deal with the US while Australian resources stocks were buoyed by a strong jobs report.
Seoul’s Kospi index gained 0.8 per cent after the US approved trade pact with South Korea.
Car makers were among the top gainers in Tokyo with Mazda up 4.5 per cent to ¥163 and Isuzu up 2.9 per cent to ¥322.
Hyundai Motor climbed 2.2 per cent to Won212,000, while parts maker Yoo sung Enterprise gained 5.9 per cent to Won2,505 on hopes for higher exports to the world’s largest economy.
Airlines were among the best performers as the country’s strengthening currency helped reduce fuel costs. Korean Air Lines, the country’s flagship airline, surged 10.6 per cent to Won49,000.
In Sydney, sentiment improved after a stronger than expected jobs report. Mining groups were at the forefront of the advance, with Fortescue Metals up 7.2 per cent to A$5.06 and Iluka Resources 9.6 per cent higher at A$16.99.
Virgin Blue added 3.2 per cent to A$0.33. – (Copyright The Financial Times Limited 2011)
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