JAPAN

Japan's Nikkei stock index rose 0.4 percent on Wednesday with trading houses up after a brokerage upgraded Mitsubishi Corp, but gains were limited as a slightly firmer yen dragged on exporters such as Honda Motor Co.

The Nikkei stock average rose 0.4 percent on Wednesday, shrugging off data showing Japan's biggest economic contraction on record, with high commodity prices buoying trading houses such as Mitsubishi Corp .

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President Barack Obama on Tuesday will propose the most aggressive increase in U.S. auto fuel efficiency ever in a policy initiative that would also directly regulate emissions for the first time and resolve a dispute with California over cleaner cars.

Nissan Motor Co said on Tuesday orders for its eco-friendly cars are up 30 percent in Japan so far in May from the same period a year earlier, helped by the government's new tax incentives for low-emission cars.

Asian shares climbed to their highest level in seven months on Tuesday on fresh hopes the global recession is easing, and oil hovered at six-month peaks as supply concerns helped buoy up prices.

Asian shares climbed to their highest level in seven months on Tuesday on fresh hopes the global recession is easing, while oil hovered at six-month peaks as supply concerns helped buoy prices.

Japan's Nikkei stock average rose 2.8 percent on Tuesday buoyed by gains in exporters such as Canon Inc after the yen retreated against the dollar.

Japan's Nikkei stock average jumped 3.2 percent on Tuesday, with Honda Motor Co and other exporters gaining after the yen retreated against the dollar.

Nine major Japanese electronics companies gave the financial report for FY 2008 by May 15, and all but Mitsubishi Electric Corporation reported loss.

The Aussie dollar followed local equity markets lower in early trade yesterday to test critical technical support ahead of 0.7450.

Toyota Motor Corp said on Monday its new Prius had received pre-sale orders for 80,000 vehicles in Japan, kicking off what promises to be a fierce battle against hybrid rival Honda Motor Co.

Moody's Investors Service stripped the Japanese government of its last triple-A foreign currency credit rating on Monday in a move that could revive market speculation about the creditworthiness of other rich nations, especially the United States.

The new flu strain is spreading widely in the United States and Japan and is likely to circulate worldwide, health officials said on Monday.

Technology companies are detecting signs of improvement in their industries, sending their share prices higher, but demand from consumers and corporations is uncertain.

Samsung Electronics, the world's top TV brand, aims to outperform the overall flat-panel television market's growth this year, thanks in part to its newly launched LED models, a senior official said.

Oil rose to around $57 a barrel on Monday as traders saw the previous session's near 4 percent fall as excessive and violence in Africa's top oil exporter Nigeria lent support.

Equities in Europe and Japan fell on Monday although emerging markets got a big boost from Indian elections which raised hopes of a stable, pro-economic reform government.

Oil bounced back to $57 a barrel on Monday, recouping some of the previous session's near 4 percent loss, buoyed by short-covering despite a still uncertain outlook for the global economy.

Most Asian stock markets fell on Monday on concerns about corporate profits and a still-uncertain outlook for the global economy, but Indian shares surged following the ruling coalition's sweeping election victory.

Oil hovered little changed above $56 a barrel on Monday, pausing from the previous session's near 4 percent loss, as the market awaited further economic data and movements in equities markets for directions.