Asian markets continued their record-setting runs on Tuesday, with PetroChina Co. leading gains in Hong Kong, while Nissan Motor Co. and Toshiba Corp. led Japanese shares to a higher close.
In Tokyo, Nikkei 225 index rose 48.07 points, or 0.27 percent, on the Tokyo Stock Exchange to 18,211.68 while in Hong Kong, the blue chip Hang Seng Index rose 0.5 percent to 21,684.67.
Nissan Motor Co. rose 0.82 percent to 1,351 yen (US$10.98) after CEO Carlos Ghosn told shareholders at meeting Wednesday that board members would forego their bonuses to take reponsibility for the company's recent poor performance. Ghosn also assured them that Nissan was investing aggressively in the future, including opening plants in emerging markets, introducing new models, developing green technology and building brand image.
Mitsubishi Heavy Industries Ltd. jumped 2.82 percent to 803 yen (US$6.53) on a Nikkei newspaper report that it signed a partnership agreement with Boeing Co. under which the U.S. aviation giant will help promote Japan's first passenger jet.
Other gainers included construction equipment maker Komatsu, which rose 1.4 percent to 3,560 yen (US$28.82), and camera and optical products company Olympus Optical Co., which rose 1.9 percent to 4,830 yen (US$39.09). Brokerage Nomura Holdings rose 2.4 percent to 2,520 yen (US$20.40).
Elsewhere:
China: Chinese stocks fell Wednesday in turbulent trading as worries over pending initial public offerings and possible market-cooling measures overwhelmed buying demand. The benchmark Shanghai Composite Index fell 2.1 percent to 4,181.32 after briefly topping the 4,300 level in the afternoon.
Taiwan: Taiwan shares surged Wednesday to hit a new seven-year high. Volume was its strongest in more than three years at 199.51 billion New Taiwan dollars (US$6.05 billion; euro4.55 billion). The Weighted Price Index of the Taiwan Stock Exchange rose 198.13 points, or 2.1 percent, to close at 8771.77.
Philippines: Philippine shares surged to set a fresh record high Wednesday, led by property and banking stocks. The benchmark 30-company Philippine Stock Exchange Index gained 51.74 points, or 1.4 percent, at 3,718.88, after losing 0.4 percent Tuesday.
With files from wire services
