Date: Friday 09 Jul 2010
Three-digit gains on Wall Street overnight gave Far East markets the confidence to go higher Friday.The Nikkei topped 9,600 for a time as exporters found favour. The usual suspects Canon and Sony did well, but a wave of selling sank oil and gas explorer Inpex Corp on news of a $6.7bn fundraising.
An eventual 49-point gain for the leading index left it at 9,585 at the close, sealing a 4% gain for the week, its best perfromance in seven months.
Hong Kong is also in upbeat mood. The Hang Seng has rallied over 300p points, or 1.7%, led by banks, property companies and oil giants PetroChina and CNOOC, up after crude prices topped $75 a barrel.
Fashion group Esprit Holdings is a star performer, up over 5%, as money previously tied up by the Agrucultural Bank of China IPO continued to find its way back into the market.
AgBank, due to list in Shanghai and Hong Kong next week, closed its share offer to subscriptions earlier this week. Money for failed subscriptions should be returned today. 
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