Most Asian markets ended Wednesday with solid gains as a rally on Wall Street and in the euro Tuesday helped exporters such as Canon and Samsung Electronics, while buoyant commodity prices lifted resource shares.
Tokyo’s Nikkei 225 sprinted 179.26 points, or 1.8%, to 10,067.15, finishing above the 10,000-mark for the first time since May 20
Markets in Hong Kong, Shanghai and Taiwan had the day off
Japanese exporters with high exposure to the euro zone outperformed after the euro Tuesday touched its highest level against the yen since June 4. Nikon Corp. soared 5.6%, Canon Inc. rose 3.9% and Mazda Motor Corp. tacked on 3.5%.
Nintendo Co. spiked 5.1% on hopes the new 3D gaming device it unveiled at the E3 Electronic Entertainment Expo in Los Angeles will create new demand.
Semiconductor-manufacturing-equipment makers also posted strong gains, with Advantest Corp. gaining 2.5% and Tokyo Electron rising 2.3%, helped by gains for U.S. technology shares.
The sector was also helped by media reports quoting Taiwan Semiconductor Manufacturing Chief Executive Morris Chang at the annual meeting as saying the company has raised its revenue-growth forecasts for the global semiconductor market this year to 30% from 22%.
Energy stocks were higher after crude-oil futures rose to their highest levels in more than a month in New York Tuesday. The July Nymex crude-oil futures contract was flat at $76.94 a barrel on Globex during Asian hours.
Japan Petroleum Exploration Co. climbed 0.9% in Tokyo, Oil Search added 0.9% and Woodside Petroleum tacked on 0.7% in Sydney.
Regional metals and mining companies advanced as commodities prices got a shot in the arm Tuesday. Rio Tinto was up 2.8% and BHP Billiton added 2.2% in Sydney, and Korea Zinc Co. rose 3.4% in Seoul
Also, in Seoul, Woori Finance Holdings Co. rose 3.3% on renewed merger-and-acquisition hopes following the nomination of Euh Yoon-dae as chairman of KB Financial Group.
Local media reports Wednesday quoted Euh as saying he will pursue a merger with Woori, while the government is expected to announce a divestment plan for its 57% stake in Woori by the end of June.
KB Financial shares sank 2.8% on worries about the dilutive impact of a possible KB-Woori merger if it were achieved through a share swap and on doubts whether a deal would create enough synergies.
Kia Motors Corp. dropped 1.4% after a recall of its Cee'd small hatchback produced at its Slovak unit. There were also worries the company's labor union may join any strike by the Korean Metal Workers' Union, which may vote Monday on whether to go on strike later.
In Wellington, Sky Network Television rose 4.6%, extending Tuesday's 3.5% rise, after news that U.K. satellite TV company British Sky Broadcasting has entered negotiations with News Corp., which is looking to buy the remaining 60.9% of the company it doesn't already own.
The news fueled speculation of a similar bid for Sky Network TV, which is 43.7% owned by News Corp.
In foreign-exchange markets, the euro took a breather as players booked some profit after the single currency rose to its highest level against the U.S. dollar in two weeks on Tuesday. The euro was at $1.2276 U.S. compared with $1.2348 U.S. late in New York trade Tuesday, and at 112.51 yen, compared with 112.86 yen. The dollar was buying 91.63 yen compared with 91.40 yen.
Elsewhere;
Singapore’s Straits Times Index moved 28.73 points, or 1%, higher to 2,846.94
Korea’s Kospi index gained 15.30 points, or 0.9%, to 1,705.33
New Zealand’s NZX index improved 22.67 points, or 0.7%, to 3,066.58
Australia’s S&P/ASX 200 gained 54 points, or 1.2%, to 4,559
