Shawshank, VA 9/27/2011 (PennyPayDay) – Japanese shares rose 2.82% on Tuesday on hopes that policy makers will get to grips with Europe's debt crisis. Sentiment was also buoyed by reports that Japan may consider being part of plans to help bailout Greece.
European debt hopes fuelled financials and exporters. Sumitomo Mitsui Financial advanced 3.42%, Mitsubishi UFJ Financial added over 4% in Tokyo. Canon climbed 4.3% while Olympus tacked on 5.2% to 2,390 yen.
Bridgestone was another big gainer, up over 6% at 1,727 yen.
The benchmark Nikkei 225 index rose 235 points at 8,609.
The Hang Seng powered ahead on Tuesday with hopes that Europe sovereign-debt crisis will be stopped from getting any worse.
Energy stocks staged an impressive comeback with shares of oil giant Cnooc surging 7.8%. PetroChina rallied 5.43% and Aluminum Corp of China jumped 7.5% in Hong Kong.
Banks also pushed ahead. HSBC added 3.44%, ICBC wa up 9.09% and Bank of China rallied 5.15%. Ping An Insurance bounced back 7.5% in Hong Kong.
Retailer Esprit climbed 7.19% on hopes of that plans are firmly afoot to sooth the European debt crisis. Li & Fungadded 7.49%.
The Hang Seng index rose 722 points at 18,131.
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