Market Report - Japan Output Up

Today Asian share markets edged lower, with mild support coming from economic recovery hopes in Japan.

Output of cars and electronics in the world's No.2 economy grew almost 6 percent in May, the third straight month of Japanese manufacturing expansion.

Analysts predict Japan's GDP will return to growth in the quarter, after the worst three-month performance in post-War history.

Japan's Elpida Memory gained on reports the P C chip maker would receive about $2.1 billion in government and private aid.

But No.2 brokerage Daiwa tumbled after announcing a $2.5 billion share sale, its first equity offering in 20 years.

The Nikkei declined along with most of the region, as the best quarter in 16 years for Asian share markets neared an end.

In London the Sunday Telegraph reported Anglo American is building defences against a $67 billion merger approach with talk of a major Chinese investment, possibly involving state-owned Chinalco.

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• Asian share market