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Asia adds to winning run
TOKYO, Japan -- Asian markets closed broadly higher Wednesday, with Japan's 2 percent rise extending its gains into a fourth day after a strong finish for Wall Street. Taiwan was the region's star performer, up 3.5 percent on big gains for its tech sector. In Tokyo, the Nikkei 225 average jumped 1.96 percent to 9752.75, adding to Tuesday's 0.81 percent gain. The broader Topix index put on 1.84 percent to 951.76. Japan's big banks were again the standout performers, with UFJ up another 9.5 percent after Tuesday's 8 percent gain. Japanese automakers and tech-related issues were also on the rise as investors drew comfort from Tuesday's surprisingly strong gross domestic product data. (Full story) Along with Japan and Taiwan, other markets in the region posted solid gains, with South Korea up 1.7 percent, Hong Kong up 1.15 percent and Singapore up 1.78 percent. Australia and New Zealand finished about half a percent higher. Wall Street closed firmer Tuesday after the U.S. Federal Reserve left interest rates on hold, as expected. (Full story) The Dow put on 1 percent, while the tech-heavy Nasdaq jumped 1.5 percent. (Full story) In Tokyo, Japan's largest automaker Toyota put on 3.2 percent to 3170 yen and Nissan was 2.5 percent ahead at 1225 yen. Top drugmaker Takeda Chemical Industries ended 2 percent higher at 4200 yen. Big steelmakers were also up sharply. Kobe Steel and JFE both rose about 8 percent and Nippon Steel was up 4.2 percent. Along with UFJ's big move, other banks rose. Mizuho and SMFG both added almost 5 percent and MTFG was up 2.7 percent to 524,000 yen. Tokyo's biggest stock, mobile phone giant NTT DoCoMo, rose 1.77 percent to 287,000 yen. In the tech sector, Fujitsu was 2.2 percent higher at 503 yen and NEC was up 4.3 percent to 792 yen. Consumer electronics leader Sony was 0.83 percent ahead at 3630 yen. In Seoul, the Kospi finished up 1.66 percent at 713.08, with a gain of 3.1 percent for market heavyweight Samsung Electronics. Hynix Semiconductor ended flat at 8900 won after posting widening losses from the fall in DRAM chip prices. (Full story) Mobile phone leader SK Telecom was down 3 percent to 193,000 won In Australia, the S&P/ASX200 closed 0.48 percent higher at 3158.1. Media group News Corp, which reports later on Wednesday, finished 1.14 percent ahead at A$12.38. Telstra and BHP Billiton were also higher. ANZ Bank was down 1.15 percent to A$18.02 after confirming it may bid for a New Zealand bank. (Full story) In Taiwan, the Taiex finished ahead a sharp 3.56 percent to 5442.27. Chip foundries TSMC and UMC were up 3.5 percent and 6.6 percent respectively. Among other techs, Acer was 5 percent higher and screenmaker AU Optronics finished ahead 6.8 percent to T$40.70. Industrial leader Formosa Plastic surged 6.5 percent higher to T$50.50. Hong Kong's Hang Seng index finished 1.15 percent higher at 10,301.47. Big bank HSBC was up 1.8 percent to HK$99.00, while China Mobile ended 1 percent lower at HK$19.35 after posting results on Tuesday. (Full story) Conglomerate Hutchison Whampoa was 1 percent higher at HK$51.25. Singapore's Straits Times index ended up 1.78 percent to 1591.48. In New Zealand, the Top 50 closed 0.64 percent higher at 2217.52. Air NZ was up 2 percent.
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