Asia: Nikkei starts week on strong footing
The Nikkei rose 1.31% on Monday as traders mulled Friday’s key US jobs data.Exporters did well as the yen fell against the dollar. Canon was up 2.6% while Sony, Toyota and Honda also advanced.
Tech related stocks such as Advantest gained sharply after comments from Intel’s boss that he expects sales of PCs to pick up next year. Shares in Toshiba were up 3.7% at 483 yen after it said it was looking at ways to cut costs at the company.
The benchmark Nikkei 225 index closed up 133 points at 10,321 in Tokyo.
Banks also did well on Monday with shares in Mitsubishi UFJ Financial trading up 0.7% at 557 yen following the weekend’s G-20 meeting in London.
The Hang Seng rose for the third consecutive session on Monday with shares in HSBC providing a boost. The banking giant gained 2% in Hong Kong after a press report said it had made an offer for ING’s private banking businesses.
Property plays also did well with shares in Sino Land up 3.6 %. Agile Property jumped 5.9% while house builder SPG Land soared nearly 20% after it posted a massive increase in first half profit.
The Hang Seng index closed up 310 points at 20,629 in Hong Kong.
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Indices
| Index | Value | % Change |
|---|---|---|
| Nikkei 225 | 10,320.94 | +1.31% |
| Hang Seng | 20,629.31 | +1.53% |
| Straits Times | 2,628.69 | +0.23% |
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