Nikkei: 9,818.76 (+24.38) Hang Seng: 23,336.00 (+176.86) Shanghai Comp: 2,889.82 (+17.36): HOPES THAT the disruption faced by Japanese exporters after March's devastating earthquake and tsunami could be less severe than feared helped Tokyo shares rebound in thin trade yesterday.
The Nikkei 225 Average rose 0.3 per cent to 9,818.76.
Toshiba climbed 3.7 per cent to ¥451 after the electronic component maker said it expected full-year operating profits to meet expectations. Rival Hitachi added 2.7 per cent to ¥452.
Sumitomo Heavy Industries jumped 11.8 per cent to ¥597 after it forecast a 17.9 per cent rise in operating profit of ¥54 billion, triggering positive broker comment.
Chubu Electric, which tumbled on Monday amid fresh fears about Japan’s nuclear infrastructure, bounced 1.9 per cent to ¥1,614.
Utility stocks were bolstered by reports that more than 10 Chinese provinces face power shortages. Guangxi Guidong Electric jumped 9.1 per cent to Rmb22.90 and Sichuan Mingxing Electric Power added 10 per cent to Rmb20.08.
Australian stocks fell back with BHP Billiton and Rio Tinto both down 0.5 per cent at A$44.53 and A$79.65 respectively. – (Copyright The Financial Times Limited 2011)
