Market Report - U.S. Lifts Asia

1. Regional stocks are at an eight month high today after a rise in U.S. consumer confidence in May cheered Asian firms depending on U.S. demand.

2. Japan's Nikkei tracked Wall Street's gains with blue chip exporters such as Sony rising with the dollar's advance against the yen.

3. Japanese exports showed mild signs of recovery in April, hinting the global trade slump may be ending.

4. Automaker Honda will reportedly expedite the roll out of a hybrid Fit subcompact car to tap growing demand for low-emission vehicles.

5. In Australia, No.4 lender ANZ is raising nearly $2 billion in a share sale, partly to fund a possible purchase of some of Royal Bank of Scotland's Asian assets.

6. Energy-related firms such as Australia's Woodside Petroleum gained after oil prices hit a six-month high.

7. and Ahead of an OPEC meeting Thursday, Saudi Arabia's oil minister says he hopes oil prices would hit $75 a barrel this year, more than double the lows of last December.

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News & Politics

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