LONDON (ShareCast) - Asia stocks posted good gains as reassuring economic news in the US instilled optimism about a global economic recovery.
Across the markets, the Nikkei (news) finished
up 82 points to 9786 with the Hang Seng (
news) rising 144 points to 17,920.
Chipmaker Elpida Memory rose on speculation that it plans to apply for tens of billions of yen in government funds this month to shore up its balance sheet.
Morgan Stanley (NYSE: MS - news) gave a positive outlook on the shipping sector, giving a lift to the likes of Mitsui O.S.K. and Kawasaki Kisen (Frankfurt: 862868 - news) .
PetroChina Co, the largest oil and gas producer in Asia, said it would buy two pipelines in western China for around HK$11bn from its state-owned parent.
Tobacco flavours firm Huabao International saw profits rise 29.3% for the year to HK$1.11bn.
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