Market Report - Asia Shares Up

Asian shares gained, with Japan's Nikkei briefly touching a three-month high after U.S. shares jumped on better-than-expected preliminary results from Wells Fargo. But the benchmark trimmed gains as some players locked in profits made during a sharp rally in the past month. Taiwan stocks touched a six-month high, with Cathay Financial rallying after reporting first-quarter profits that beat market expectations. Seoul shares rose after solid gains on Wall Street. News that South Korea's economy avoided recession in the first quarter, growing 0.2 percent, also boosted sentiment and sent bank shares higher. The Bank of Japan will probably cut its forecasts for the economy when it releases its half-yearly outlook at the end of April. And Japan's Nissan Motor and France's Renault say they will supply electric cars to China, the world's largest auto market.

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News & Politics

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