Japan's upbeat growth data lifts Asian equities

Nikkei:8,603.70 (+89.23) Hang Seng:19,508.18 (+371.01) Shanghai Comp:2,528.71 (+47.63)

ASIAN SHARES started the week on a strong note as concerns about Europe’s debt crisis began to ease while Japan’s positive third-quarter economic growth figures boosted automakers and machinery makers.

The FTSE Asia Pacific index was up 1.2 per cent shortly after Hong Kong’s close.

Nomura Holdings surged 5.8 per cent to ¥257 and Daiwa Securities climbed 2.8 per cent to ¥257 in Tokyo.

In Hong Kong, HSBC advanced 2.3 per cent to HK$63.25 and Bank of China rose 2.2 per cent HK$2.76.

KB Financial climbed 2.7 per cent to Won39,900 in Seoul.

The Nikkei 225 Stock Average rose 1.1 per cent. Nissan was up 2 per cent at ¥719 and Mazda climbed 2.8 per cent to ¥145.

Olympus, a camera maker, surged 17.4 per cent to ¥540.

Electronics group Sony added 1.4 per cent to ¥1,373 as a group led by the company’s music division planned to buy EMI’s publishing operation for $2.2 billion.

In Seoul, Hynix Semiconductor climbed 3.5 per cent to Won22,300. – (Copyright The Financial Times Limited 2011)