Japanese stocks gained for another session on Wednesday, sending the benchmark Nikkei Stock Average back higher than the 10,000-point level for the first time since early April, whereas the rest of Asia as welladvanced.
The Nikkei Stock Average added 2.4% to close at a session-high, bringing week-to-date advances to 4.3% and year-to-date increases to a fractionlower than 21%.[article_detail_ad_1]
To a different place in Asia, Hong Kong’s Hang SengIndex,added 0.7%, whereas the Shanghai Composite Index crept 0.2% lower.
Australia’s S&P/ASX 200 index, stretched near-17-month highs by gaining 0.5%. New Zealand’s NZX 50 rose 1.2%, whereas Singapore’s Straits Times Index and Taiwan’s Taiexbothgained 0.2%.[article_detail_ad_1]
Japanese financials were among theprominent gainers, with Mitsubishi UFJ Financial Group Inc.(TYO:8306)(NYSE:MTU) gaining 6.1%, Nomura Holdings, Inc.(TYO:8604)(NYSE:NMR)advancing 4.7%, Daiwa Securities Group Inc.(TYO:8601) mounting 3.5%, and Resona Holdings, Inc.(TYO:8308) higher 3.1%.
Reuters published that Mitsubishi UFJ Financial Group Inc has decided to acquire Bank of America Merrill Lynch’s interest in their Japanese private banking joint venture for almost $480 million.
Mitsubishi UFJ Financial Group Inc will purchase Merrill Lynch’s 49% share in Mitsubishi UFJ Merrill Lynch PB Securities Co, the private banking venture founded in 2006, for an unrevealed sum, the companies stated in a statement. A source with direct knowledge of the matter stated the value of the agreement is almost 40 billion yen ($482.3 million).
Nomura, Asia’s worldwide investment bank, today declared that the United States launch of the Nomura QES Modelled Private Equity Returns Index, the first day-to-day investible index for institutional investors which targets returns related to thosewhich may be achieved through aninternational broad-based investment in private equity buyout funds on a dedicated capital basis.