Most Asian indexes ended higher Wednesday, with exporters such as Sony Corp. and Canon Inc. lifting Japan's Nikkei 225 to its fifth straight day of gains, while shares in Hong Kong hit fresh highs on continued buying in China-related stocks such as China Life Insurance and PetroChina.
In Tokyo, Nikkei 225 index added 18.82 points, or 0.10 percent, to 18,178.72 while in Hong Kong, the blue chip Hang Seng Index rose 67.41 points, or 0.3 percent, to 22,218.55.
Imperial Hotel Ltd. jumped 10.24 percent to 5,380 yen ($44.10) on a Nikkei business newspaper report that Cerberus may sell its 40 percent stake in the hotel chain to one of the local real estate developers Mitsui Fudosan Co. or Mitsubishi Estate Co.
Mitsui Fudosan gained 2.32 percent to 3,530 yen ($28.93), and Mitsubishi Estate Co. rose 2.69 percent to 3,430 yen ($28.11).
ELSEWHERE:
TAIPEI: -- Taiwan shares hit a fresh 7-year high Wednesday on strength in the construction sector. The Weighted Price Index of the Taiwan Stock Exchange rose 72.78 points, or 0.8 percent, to close at 9068.98 in heavy volume.
MANILA: -- Philippine shares slid Wednesday as investors locked in profits from the market's record close the day before. The benchmark 30-company Philippine Stock Exchange Index lost 20.33 points, or 0.5 percent, at 3,731.66, after gaining 4.6 percent over the last four sessions.
SHANGHAI: Chinese stocks fell Wednesday amid renewed worries regulators will move to tighten credit and expectations of a massive influx of shares from new listings. The yuan slipped back against the U.S. dollar. The benchmark Shanghai Composite Index shed 2.1 percent to 3,816.17. The Shenzhen Composite Index also declined 2.1 percent, to 1,078.95.
With files from wire services
