Sun, May 12, 2013 - Page 15 News List

Asian markets advance, led by Japanese surge

ATTRACTIVE EQUITY:Stocks soared on the yen’s steep depreciation against the US dollar as well as the high earnings forecasts released by corporations

Bloomberg

Among stocks that fell, Yue Yuen Industrial Holdings Ltd (裕元工業), which supplies Nike Inc, tumbled 14 percent to HK$23.20, the biggest weekly drop since November 2008. The shoemaker said first-quarter results demonstrated a significant downturn and interim results may also be affected by rising costs and the relocation of a factory.

In other markets on Friday:

Manila rose 0.94 percent, or 67.95 points, from Thursday to 7,262.38.

Mumbai rose 0.72 percent, or 143.58 points, to 20,082.62.

Wellington rose 0.29 percent, or 13.44 points, to 4,652.78.

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