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Thursday, March 24, 2011

Asian stocks rise as dealers look to Wall Street


Asian shares rose on Friday as traders took a strong cue from Wall Street while sentiment
was also buoyed by progress in containing a crippled nuclear plant in Japan.
Traders in Tokyo lifted the Nikkei index as some of the country's big manufacturers restarted production
after the devastating March 11 earthquake and tsunami.
Tokyo was one percent higher by the break, Hong Kong gained 0.78 percent and Sydney rose 1.20 percent
while Shanghai added 0.65 percent and Seoul gained 0.61 percent. Taipei was up 0.34 percent.
Regional shares have also been supported by bargain hunting after a sell-off last week caused by the
Japanese crisis.
Dealers are growing more confident that the battle to avoid a meltdown at the Fukushima No.1 plant in
Japan is being won with crews having linked up an external electricity supply to all six reactors and
preparing to restart cooling systems.