Date: Thursday 27 May 2010
Shares in trading firm Mitsui & Co rallied 3.8% in Tokyo on the back of rising commodity prices while Mitsubishi Corp increased 3.2%. Mitsui OSK surged 3% on the back of rising shipping rates. Kawasaki Kisen Kaisha advanced 5%.
Shares in robot maker Fanuc advanced 3.2% after Swiss broker Credit Suisse increased the group's price target.
The Nikkei 225 index rose 117 points to close at 9,640.
The Hang Seng also reversed an earlier decline with oil and shipping stocks clocking up some impressive gains. Cnooc rallied 3.8% in Hong Kong while PetroChinaadded 1.99% to HK$8.22. Coal giant China Shenhua added 2%. Shipping giantChina Cosco gained 3.1%.
Amongst financials Bank of China fell as much as 3.27% while HSBC lost 0.57%.
Sentiment was lifted after China's foreign-exchange regulator said reports that China is reviewing its holdings of euro-zone debt are 'groundless'.
The Hang Seng advanced 244 points to 19,441 in Hong Kong.
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