Asian Stocks gain on financials (MarketWatch)  (25-02-2008)

HONG KONG (MarketWatch) -- Most Asian markets started the week in positive territory on Monday, led by gains in banking shares, such as Mizuho Financial Group in Tokyo and National Australia Bank in Sydney. This came after the gains in the U.S. on Friday, as news emerged of several big banks arranging to help bail out bond insurer Ambac Financial early this week.

In Tokyo the Nikkei 225 Average ended more that 3% higher at 13,914.57. The Topix index added 2.6% to 1,255.54.

In Hong Kong, the Hang Seng Index was up 0.2%. The Hang Seng China Enterprises Index, or Hong Kong-listed shares of mainland-incorporated companies, fell 0.2%. Taiwan's Weighted Price Index was up 2.2%.

China's Shanghai Composite traded on a weaker footing, shedding 3.3% to 4,259.92.

In Australia, the S&P/ASX 200 added 1.1%; New Zealand's NZX 50 index was little changed and South Korea's Kospi advanced 1.4%.

Among Japanese financials, shares of Mizuho Financial Group added 4.4%, Mitsubishi UFJ Financial Group added 4%, and Mitsui Sumitomo Insurance Co. jumped 10.2.%.

In Sydney, shares of National Australia Bank gained 1.9% and Macquarie Group added 1%.

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 Source MarketWatch