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Asian markets higher as Japanese stocks jump

Asian markets higher as Japanese stocks jump

Asian shares were mostly higher in early trading Tuesday, with stocks in Japan clawing back some of the losses inflicted after a massive earthquake struck the country's industrial northeast less than two weeks ago.
The benchmark Nikkei 225 in Tokyo rose 2.9 percent, or 270.74 points, to 9,477.49. Sentiment was buoyed by signs that the situation at a damaged nuclear complex was stabilizing. On March 11, a powerful earthquake unleashed a towering tsunami that slammed into the plant, causing a major malfunctions and radiation leaks.
Japan's big three auto manufacturers _ Toyota, Honda and Nissan _ all posted gains amid expectations their operations would slowly ramp up this week after being halted by the quake.
Toyota Motor Corp. rose 3.1 percent, Honda Motor Corp. was 1.6 percent up, and Nissan Motor Co. gained 1 percent. Other companies that comprise Japan's powerhouse export sector also gained Tuesday, the first day of trading this week after a public holiday Monday.
Electronics makers Panasonic Corp. rose 4.5 percent and Sony Corp. was up 3.1 percent. Elpida Memory Inc., the world's No. 3 maker of computer-memory chips and a leading manufacturer of DRAMs, rose 5.2 percent.
Elsewhere, Hong Kong's Hang Seng index was higher by 0.1 percent to 22,705.80. South Korea's Kospi index rose 0.5 percent to 2,012.19, and Australia's S&P ASX 200 rose 0.1 percent to 4,647.30. Shares in mainland China slumped on both the Shanghai Composite Index and the smaller Shenzhen Composite Index.
In New York on Monday, stocks started the week with big gains Monday on a major telecommunications deal. The Dow Jones industrial average closed above 12,000 for the first time since a nuclear power plant in Japan failed following a massive earthquake and tsunami.
The Dow Jones industrial average rose 178.01 points, or 1.5 percent, to 12,036.53. The Standard & Poor's 500 index gained 19.18, or 1.5 percent, to 1,298.38. The Nasdaq composite rose 48.42, or 1.8 percent, to 2,692.09.


Updated : 2021-04-12 16:00 GMT+08:00