Asian markets rise on signs of strong global recovery
City Index February 2, 2011 2:52 PM
<p>Asian markets surged today as signs of global recovery resurfaced. The Nikkei 225 was up 1.9% at 10,470 and the Hang Seng was up 1.8% […]</p>
Asian markets surged today as signs of global recovery resurfaced. The Nikkei 225 was up 1.9% at 10,470 and the Hang Seng was up 1.8% at 23,908.
In Japan, all sectors were stronger with Financials the biggest gainers up 3.2%. Mitsubishi Electric Corp, Casio Computer and NTT Data Corp were all big winners today up approximately 7%. The rises came amid increased earnings expectations and strong expected growth into the first quarter of 2011.
In Hong Kong, despite the protracted trading week due to the Chinese New Year celebrations, stocks have seen the biggest gain in two months after U.S manufacturing expanded at the fastest pace in more than six years.
Cosco Pacific, a container-terminal operator rose 4.4% and Li & Fung, the biggest supplier of clothes and toys to Wal-Mart stores advanced 2.2%.
Most of the Asian markets will be closed for the Chinese New Year on Thursday and Friday.
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