Japan leads Asia markets on Monday

March 28, 2016 8:25 am Published by

Japan’s Nikkei index leads Asia markets on Easter Monday

  • 28 March 2016
  • From the section Business

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Japan’s Nikkei 225 finished up 0.77% to 17,134.37 on Monday helped in part by a lower yen against the dollar.

Shares in troubled Japanese electronics giant Sharp rose as much as 8% in early trade on hopes of a bailout deal.

The Nikkei business daily newspaper reported that a deal for the electronics firm may finally be signed this week.

Sharp has been in talks with Taiwan’s Foxconn, formally known as Hon Hai Precision Industry Co.

However, the deal will be smaller than originally planned, reports said.

Sharp’s shares finished the Easter Monday session up almost 5%.

Manufacturing shares

In China, the Shanghai Composite spent much of the day in positive territory.

Data released on the weekend showed industrial profits returned to growth during January and February, which gave a boost to manufacturing shares.

However, by late afternoon, the index had lost ground and was down 0.33% to 2,968.9.

South Korea’s benchmark Kospi index finished the session flat at 1,982.54.

Markets in Hong Kong and Australia reopen on Tuesday after the Easter holidays.

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This post was written by FSB News