Sentiment turns positive in Asia; beverage companies gain in Japan as government warns of contaminated drinking water

<p>Asian markets were slightly up today with the Nikkei and Hang Seng both up around 0.14% and 0.7% respectively. In Japan Coca-Cola West Co and […]</p>

Asian markets were slightly up today with the Nikkei and Hang Seng both up around 0.14% and 0.7% respectively.

In Japan Coca-Cola West Co and other beverage makers gained after Tokyo authorities said infants should not be given tap water to drink after finding traces of radioactive iodine, as radiation at the nuclear power plant north of the capital hampered efforts to repair reactors damaged by the tsunami. Asahi Breweries advanced 2.6% and Kirin Holdings advanced 1.9%.

In Hong Kong CNOOC, China’s biggest offshore oil producer climbed 2% after saying 2010 profit increased 85% to a record. Jiangxi Copper Co, China’s No. 1 producer of the metal and Aluminum Corp of China both gained at around 1.9%.

In Australia, Materials and Energy stocks led the market higher today while the Australian dollar continued to appreciate.


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