Market Update
Asian markets finished mostly higher Monday after a strong close for Wall Street equities on Friday following upbeat U.S. jobs data boosted investor confidence.
The Nikkei was up 1.8%. The Shanghai Composite rose 2% while the the All Ordinaries gained 1%.
But the Hang Seng and the Sensex gave up early gains to finish down 0.3% and 0.2% respectively.
Earlier Monday, data showed Japan’s current account deficit widened to a record in December to 638.6 billion yen.
Stocks on the Move
Shares of Isuzu Motors accelerated 4.8% after the auto maker reported a 38% rise in third quarter net profit. Nissan edged up 0.1% ahead of its results announcement due later in the day.
Also reacting to results, Olympus Corp. jumped over 7%.
Sharp was up 2.9% while Hitachi gained 2.6%.
In Hong Kong, Landing International advanced over 14% after the company, along with partner Genting Singapore PLC, announced plans to build a $2.2 billion casino resort on South Korea’s Jeju Island.
Tata Steel slipped 0.5% in Mumbai ahead of its third-quarter results due tomorrow.
Tata Motors gained 0.9% ahead of its results expected later in the day.
The broader market listed Wockhardt Ltd. added 3.4% after results.
HUL was down 2.2%.
In Sydney, resources were boosted by a gain in commodity prices. Gold digger Newcrest Mining brightened 7.1% while diversified miner and index leader BHP Billiton gained about a percent.
Oil and gas producer Santos also climbed over a percent.
National Australia Bank was up 1.9% after the U.K.’s Sunday Times reported the lender is considering a $3.3 billion float of its British operations, which the report said, had dragged on NAB’s results in recent years.