Le Asian bags they started the week in the positive side, recovering last week's decline as higher oil and commodity prices offset an unexpected decline in US home sales. Among the titles in the spotlight, BHP Billiton, Australia's largest oil producer, gained 0,4 percent. Sony, Japan's number one consumer electronics export, recovered 1,7% after the yen dropped against all major international currencies. Leighton Holdings (construction) jumped 3,6%, following the announcement of A$400 million of new work and the hiring of a new managing director for its offshore divisions. More generally, the Nikkei it jumped 0,3%, thanks to the enthusiasm of investors eager to buy after last week's drop. The MSCI Asia Pacific Index was up 0,1% at 126.51 as of 9:16 am in Tokyo, after dropping 1,3% last week.
The index gained 11% in the quarter ending this week, the largest gain since the three months ended September 2010. Finally, commodity prices rallied, dragging commodity-related stocks higher.
http://www.bloomberg.com/news/2012-03-26/asian-stocks-advance-as-commodity-prices-offset-u-s-data.html http://www.reuters.com/finance/markets/asia
