BANGKOK - Asian slapping stock markets weak economic figures from U.S. Wednesday signs had emerged in the Japan of acceleration by the earthquake and the tsunami that devastated the country s industrial Northeast.
The price of oil rose to $ 98 a barrel after a crude oil supply report showed mixed signs on request to the United States. The dollar was against the euro and the yen.
Index Nikkei 225 of the Japan rose 1.1% to 9,667.26, helped by reports of a recovery in industrial production after massive disturbances after the earthquake on March 11 and the tsunami which destroyed much of the northeast of the country.
Reports that Renesas Electronics Corp. - a leading supplier of microprocessors that control the brakes, engines and transmissions for cars - will boost production at the plant key helped help lift sentiment, reported Kyodo News Agency, quoting analysts. Renesas shares rose by 5.4%.
Rising banking shares on Wall Street helped lift their Asian counterparts. Mizuho Financial Group Inc. increased by 3.2%, Mitsubishi UFJ Financial Group Inc. was 2.1 per cent higher and Sumitomo Mitsui Financial Group rose by 3.5%. But exporters slipped on the strengthening of the yen. Sony Corp. has been 1.1% down, Sharp Corp. lost 0.7% and Canon was less than 0.1%.
Peter Elston, said strategist at Aberdeen Asset Management at Singapore, Asian stock markets were benefiting from a rebound that was nothing "beyond a slight reaction to the recent weakness technique.".
"There are so many questions out there causing a bit of market indigestion, it really is causing the weakness of the market in recent days," he said.
ABN of the Korea of the South was superior to 2,129.88, with automakers and shipbuilders at the forefront of 1.3%. Hyundai Heavy Industries Co., manufacturer leader of the Korea of the South, turned to 6.9%. Kia Motors Corp. jumped to 2.8%.
Hong Kong Hang Seng rose by 0.5% to 23,016.74 and S & P/ASX 200 the Australia was 0.3 percent higher to 4,695.80. Crude oil prices sent and actions of higher energy. CNOOC Ltd., China's main offshore producer of oil and gas, bounced 2.3% higher. Listed in Shanghai of Shanxi Guoyang New Energy Co. Ltd. increased by 6.1%.
Purchase of stock continues despite signals repeated economic distress of Europe, in the United States and elsewhere.
The Greece, the Ireland and Portugal needed the rescue of their neighbours due to their high debts and investors worry that more will have to do to save the economy Greek. The United States has also a debt crisis. The economy of the world no. 1 reaches its limit of 14.3 billion on Federal borrowing Monday, leaving Congress 11 weeks to increase the threshold of borrowing or at risk of a financial panic or another recession.
During this time, the inflation stubbornly high in China and India led their central banks to increase interest rates and to take other measures to contain the problem, but with questionable success. These measures are often unwelcome by investors, as antigrowth.
Tuesday, the Federal Reserve said factories U.S. produce fewer goods in April for the first time in 10 months. If the decline continues, it may interrupt in the revenues of the companies that manufacture industrial equipment. The Commerce Department said that new housing construction plunged.
The Dow Jones index lost 12,479.58 68.79 points. & S P 500 lost less than 1 point to 1,328.98. The Nasdaq rose less than 1 point to 2,783.21.
Benchmark crude for June delivery was up 95 cents to $97.85 US per barrel in electronic trade on the New York Mercantile Exchange. Contract lost 47 cents to settle at $96.91 per barrel, on Tuesday.
In currencies, the euro strengthened to $1.4274 of $1.4229 in late Tuesday trading in New York. The dollar weakened to 81,10 yen of yen 81.43.
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