Asian Stocks End Higher Amid Stronger Dollar

May 14, 2008 11:15 a.m. EST

Tokyon, Japan (AHN) - Asian markets closed higher Wednesday as exporters rebounded amid a stronger U.S. dollar. China's Shanghai Composite recovered from Tuesday's losses following Monday's earthquake.

In Tokyo, the Nikkei 225 finished 1.2 percent higher at 14,118. Exporters advanced while financial stocks closed in negative territory.

The U.S. dollar was worth 105.31 yen, the third day of upward movement for the American currency. Tuesday, the dollar was worth 104.76 yen and 103.77 yen Monday.

Nikon Corp led Japanese stocks buoyed by the stronger dollar, a 2.2 percent increase following a 12 percent jump Tuesday. Honda rose 3.1 percent, while Nissan Motor ended unchanged, a 30 percent drop in yearly profits balancing increased quarterly profits.

China's Shanghai Composite closed 2.7 percent higher to 3,657, rebounding from a 1.8 percent drop Tuesday. Trading was suspended Wednesday in shares of companies based in Sichuan province and Chongqing, areas that were devastated in the quake that hit earlier this week.