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Market Update

Asian Markets End Higher; China Slips

Barring the Chinese markets, Asian shares ended higher Monday following a strong finish for Wall Street last week Friday

The Nikkei gained 1.5%. The Shanghai Composite declined 0.4% while the Hang Seng ended flat with a negative bias. The Sensex gained 1.9% and the All Ordinaries was up 0.3%.

The yen weakened versus the dollar, helping shares of exporters.

Over the weekend, Iran struck a nuclear deal with world powers, lessening geo-political risk, and which also helped sentiment.

Stocks on the Move

Sony was up 0.3% while Panasonic surged 3.6% and Pioneer Corp. shot up 7.2%.

In autos, Toyota was up 1.4% while Mazda accelerated 3.9%.

Advantest gained 3% while Softbank Corp. extended Friday’s gains, adding 5.4% after Third Point LLC head Daniel Loeb disclosed to a financial conference that his fund held a roughly $1 billion stake in the Japanese telecom.

Some oil shares shrugged off early declines following the deal with Iran. CNOOC ended flat in Hong Kong but Sinopec was 2.6% lower. PetroChina fell 1%. Sinopec was also weighed by an explosion of an oil pipeline in eastern China that killed 52 people, according to state media.

In Mumbai, the top gainer was BHEL, up 5.2%, followed by ICICI Bank, up 5.1%, and L&T, up 4%.

ONGC, SBI, Tata Motors and HDFC gained above 3% each.

In Sydney, James Hardie Industries gained 1.6%. Index leader BHP Billiton edged up 0.2%.