Monday, November 13, 2006

Asian Stocks Up

HONG KONG-- Asian stocks were higher early Tuesday, with Japan's Nikkei 225 index leading the region after stronger-than-expected gross domestic product data inspired buying in blue-chip stocks such as Mitsubishi UFJ.
Japan's economy expanded 0.5% in the three-months ending in September from the previous quarter, its seventh straight quarter of expansion, the government said shortly before the start of trading.

Tokyo's Nikkei 225 Index gained as much as 1.7% to 16,286.81. The broader Topix index rose 1.7% to 1,595.85.

Elsewhere in the region, Australia's S&P/ASX 200 rose 0.4%. Singapore's Straits Times Index was up 0.5% while South Korea's Kospi added 0.5%. Taiwan's Weighted Price Index rose 0.7% and Malaysia's KLSE composite rose 0.4%.
Shares of Mitsubishi UFJ , Japan's largest bank by assets, rose as much as 3.6%

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