Market Report - Asia Stocks Hit 13-Month Highs

1. In todays market report Asian stocks hit their highest level in 13 months after U.S. economic data raised hopes that the global economic recovery is strengthening.

2. Shares in Japan rose as a Reuters Tankan survey showed the mood among Japanese manufacturers this month was at its highest level in a year.

3. Nissan gained after it said Chinese vehicle sales would climb 18 percent above its initial target of 570,000 units this year.

4. The Bank of Japan upgraded its assessment of the world's No.2 economy.

5. In South Korea, strong sales by the top three department stores helped push the KOSPI up, although the Finance Ministry said the economy faced high uncertainty.




6. Australian resource-linked shares were also boosted by optimism that global growth could be faster than forecast, while gold hit its highest since March 2008.

7. And Top miners BHP Billiton and Rio Tinto jumped, while Australia's biggest independent oil and gas group, Woodside Petroleum, also surged.

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