Investing.com – Asian stock markets advanced on Wednesday, as market sentiment was boosted by robust corporate earnings from U.S. companies, including Ford and UPS, while shares in Canon surged in Tokyo after reporting first quarter results.
During late Asian trade, Hong Kong's Hang Seng Index edged 0.1% higher, South Korea's Kospi Composite added 0.05%, while Japan’s Nikkei 225 Index jumped 1.39%.
The world’s largest digital camera maker Canon saw shares rally 7% after it said sales in the current quarter increased 11.1% to JPY839.19 billion, citing increased demand for its point-and-shoot cameras in emerging markets and demand for laser printers and other office equipment in the U.S.
The stock was upgraded by Nomura Holdings following the earnings results, saying the camera maker’s growth prospects are “positive” even after last month’s record earthquake and tsunami damaged supply chains.
Shares in many of the big name Japanese exporters advanced, boosted by the outlook for export earnings. Shares in Nissan and Honda climbed 1.7% and 1.5% respectively, while chip manufacturer Elpida Memory saw shares gain 2.3%.
However, Sony dropped 2% after the electronics maker warned customers who use its PlayStation Network that credit-card data and other personal information may have been stolen by a hacker.
Earlier in the day, Standard & Poor’s cut Japan’s sovereign-rating outlook to ‘negative’, as the nation’s reconstruction needs following last month’s disaster will likely add to what’s already the world’s biggest debt load.
In Hong Kong, shares in the real estate sector led gains on hopes for a government land auction later in the day. Shares in Hong Kong’s third largest property developer Wharf Holdings jumped 1.7%, Henderson Land rose 1.2%, while shares in Sino Land added 0.7%.
The outlook for European equity markets, meanwhile, was mixed. The EURO STOXX 50 futures pointed to a loss of 0.1%, France’s CAC 40 futures indicated a gain of 0.1%, the FTSE 100 futures pointed to a rise of 0.07%, while Germany's DAX futures eased up 0.02%.
Later in the day, the U.S. was to publish official data on durable goods orders, while the Federal Reserve was to announce its federal funds rate.
During late Asian trade, Hong Kong's Hang Seng Index edged 0.1% higher, South Korea's Kospi Composite added 0.05%, while Japan’s Nikkei 225 Index jumped 1.39%.
The world’s largest digital camera maker Canon saw shares rally 7% after it said sales in the current quarter increased 11.1% to JPY839.19 billion, citing increased demand for its point-and-shoot cameras in emerging markets and demand for laser printers and other office equipment in the U.S.
The stock was upgraded by Nomura Holdings following the earnings results, saying the camera maker’s growth prospects are “positive” even after last month’s record earthquake and tsunami damaged supply chains.
Shares in many of the big name Japanese exporters advanced, boosted by the outlook for export earnings. Shares in Nissan and Honda climbed 1.7% and 1.5% respectively, while chip manufacturer Elpida Memory saw shares gain 2.3%.
However, Sony dropped 2% after the electronics maker warned customers who use its PlayStation Network that credit-card data and other personal information may have been stolen by a hacker.
Earlier in the day, Standard & Poor’s cut Japan’s sovereign-rating outlook to ‘negative’, as the nation’s reconstruction needs following last month’s disaster will likely add to what’s already the world’s biggest debt load.
In Hong Kong, shares in the real estate sector led gains on hopes for a government land auction later in the day. Shares in Hong Kong’s third largest property developer Wharf Holdings jumped 1.7%, Henderson Land rose 1.2%, while shares in Sino Land added 0.7%.
The outlook for European equity markets, meanwhile, was mixed. The EURO STOXX 50 futures pointed to a loss of 0.1%, France’s CAC 40 futures indicated a gain of 0.1%, the FTSE 100 futures pointed to a rise of 0.07%, while Germany's DAX futures eased up 0.02%.
Later in the day, the U.S. was to publish official data on durable goods orders, while the Federal Reserve was to announce its federal funds rate.