Asian markets rise after strong finish on Wall Street

Guy Bentley
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Asian markets are on the rise as investors welcomed a weaker yen and a strong performance on Wall Street, with US equity indexes climbing to record highs.

Japanese car maker Nissan enjoyed strong gains after full-year profits jumped 10 per cent beating analysts' estimates and forecast increasing dividends. Mitsubishi Chemical also rose sharply on reports that it intended to buy a majority stake in gas company Taiyo Nippon.

Federal Reserve chair Janet Yellen is due to speak on Thursday after reassuring Congress last week that the Fed remains ready to do all it can to help the US economy.

In April, China saw aggregate financing fall to 1.5 trillion yuan compared February's two trillion. More Chinese data is due to be released including retail sales and industrial output for April.

The situation in Ukraine remains tense but did little to raise concerns among investors. Pro-Russian separatists in east Ukraine may hold a second referendum on whether to join the Russian Federation. However, Moscow has not recognised the region as independent.