Asian shares are mostly higher today, with corporate takeover news and positive earnings leading the way in Sydney. AXA gained 30% after AMP proposed a multi billion dollar takeover bid. CBA also gained after reporting first quarter cash profits of A$1.4 Bln, thus supporting the banking sector.
Japan’s Nikkei was under pressure ealier on the back of concerns of a stronger Yen, but has reversed into the black come midday.
Korean shares are being led by automotive, construction and financial stocks, with Posco up 1.6%, Hyundai Steel up 1.3% and Hyundai Motors up 0.6%.
The Nikkei is currently up 0.1%, Kospi up 0.9% and the ASX200 up 1.6%.
