Market Report – Asia Shares Up on U.S. Recovery

In today’s market report… Asian shares posted solid gains Thursday following a rally on Wall Street.

Japan’s benchmark Nikkei average climbed to a 2-week high. South Korea’s Kospi and Hong Kong’s Hang Seng both gained on renewed optimism about the U.S. economic recovery.

Carmakers like Honda powered the Nikkei’s 3 percent surge, encouraged by new international sales numbers. The weaker yen continued to support exporters like Panasonic and Canon.

Still, Japanese investors remained cautious, uncertain about the country’s political future after the Prime Minister announced his resignation on Wednesday.

Finance Minister Naoto Kan is emerging as the front-runner to become Japan’s next Prime Minister. In the past he’s pressed the central bank to do more to fight deflation. But critics say he lacks deep expertise on budget and tax issues.

Foto: NTDTV