Sharp shares rise as China approves Foxconn takeover

Sharp logo Image copyright AFP

Shares in Sharp have jumped after Chinese regulators agreed a takeover of the Japanese electronics firm by Taiwan's Foxconn.

Sharp rose more than 19% after Foxconn said China's anti-monopoly authorities had approved the deal.

The Nikkei 225 index in Tokyo closed 1.1% higher at 16,919.92, boosted by exporters' shares and a strong performance on US markets.

Wall Street had hit a record high on strong oil and retail stocks.

Elsewhere in Asia, the ASX 200 in Australia also traded higher, up 0.4% to close at 5,530.90.

In Hong Kong, the Hang Seng closed up 0.8% at 22,766.91 points, while the mainland Shanghai Composite jumped 1.6% to close at 3,050.67.

The gains in China came in spite of fresh data adding to a raft of indicators suggesting the world's second largest economy remains in the doldrums.

In South Korea, the benchmark Kospi index wrapped the day flat at 2,050.46 points.

More on this story