Gains in resource stocks help Nikkei power ahead

Nikkei:9,206.75 (+244.08) Hang Seng:22,685.22 (+384.99) Shanghai Comp:2,909.81 (+2.93)

STOCKS IN industries affected by Japan’s worst earthquake on record climbed yesterday amid signs the country is making progress bringing the crisis at a stricken nuclear plant under control.

Extract Resources surged 14 per cent to A$8.01 and Energy Resources of Australia, a uranium miner, closed 1.5 per cent higher at A$8.12.

Areva, the world’s largest maker of nuclear reactors, added 4.1 per cent to €31.42 in Paris.

Tokyo Electric Power climbed 3 per cent in Frankfurt, trading at the equivalent of ¥1,208.

Toyota shares rose 4 per cent in Frankfurt, trading at the equivalent ¥3,450, 6.5 per cent higher than on March 18th in Japan.

China Green Holdings gained 4.1 per cent to HK$5.36 in Hong Kong.

Ta Ann increased 4.7 per cent to 6 ringgit in Kuala Lumpur, while Jaya Tiasa Holdings, a seller of plywood, climbed 1.1 per cent to 5.5 ringgit on expectation demand from Japan will increase as the nation rebuilds.

Korean Air Lines, South Korea’s largest carrier, jumped 4.5 per cent to 60,400 won in Seoul. – (Bloomberg)