Stocks listed in Hong Kong soared Monday for the second straight session, as buoyant regional markets and bargain-buying after a string of recent losses lifted China-related issues such as China Mobile Ltd.
In Tokyo, the Nikkei 225 average gained 1.7 percent at 15,135.21, as trading resumed after an extended holiday weekend. The broader Topix index advanced 2.1 percent to 1,467.03.
n Hong Kong, the Hang Seng Index ended the morning trading session up 4.1 percent at 27,626.62. The 43-issue Hang Seng China Enterprises Index jumped 5.4 percent to 16,542.37.
In Hong Kong, China-related financial and resource stocks led the charge, with shares of market heavyweight China Mobile jumping 3.8 percent, refiner China Petroleum & Chemical Corp., or Sinopec, surging 8.3 percent and Bank of Communications soaring 7.3 percent.
In Sydney, miners gained with Rio Tinto in the lead, although China Investment Corp. denied reports in the Chinese media over the weekend that it will join major steelmakers, including Baosteel Group, to bid about $200 billion for Rio Tinto -- higher than BHP Billiton's stock offer. Rio has already rejected BHP's offer. Rio's shares jumped 7.5 percent, while BHP stock rose 4.6 percent.
In Tokyo, financials jumped as investors ignored continued news flows related to the turmoil in the global financial markets related to U.S. subprime mortgages. Shares of Mitsubishi UFJ soared 6.8 percent, while Mizuho Financial Group climbed 5.4 percent.
ELSEWHERE:
MUMBAI: India's Sensex added 1.9 percent at 19,206.64.
SEOUL: South Korea's Kospi ended 4.7 percent higher at 1,855.33.
SHANGHAI: The Shanghai Composite rose 0.8 percent to 5,074.20.
SINGAPORE: The Straits Times Index climbed 2.2 percent to 3,399.32.
TAIPEI: Taiwan's Weighted index added 2.2 percent to 8,528.33.
SYDNEY: Australia's S&P/ASX 200 rose 2.2 percent to 6,471.40.
WELLINGTON: New Zealand's NZX 50 index advanced 0.2 percent to 4,077.12.
with files from other wire services
