Asian markets recover on G20 hopes - but Sharp shares fall after Foxconn delay

 
Emma Haslett
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Yesterday shares in China experienced their sharpest falls in months (Source: Getty)

After sharp falls yesterday, shares in China recovered overnight, after the country's central banker showed told a G20 meeting the country still had "multiple policy instruments" to support stumbles in growth.

The Shanghai Composite was up 1.4 per cent in mid-afternoon trading, while the Shenzhen Composite was up 0.6 per cent.

Meanwhile, Hong Kong's Hang Seng rose 1.6 per cent, while the Nikkei Rose 0.3 per cent.

In Japan, the one fly in the ointment was electronics manufacturer Sharp, whose shares fell 11.4 per cent to ¥132 after Taiwanese electronics giant said it was delaying a potential $4.3bn (£3.1bn) takeover of the company, after receiving "new information" regarding its debts.

Sharp's board voted unanimously in favour of the buyout by iPhone maker Foxconn, according to reports - a deal would make it the first time a Japanese electronics firm has been taken over by a foreign company.

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