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Asian Stocks End Mixed, Tokyo Stocks Rise
25 Jan 2011 EST - CNBC.com
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Asian stocks climbed on Tuesday after a strong session on Wall Street which saw the Dow Jones Industrials finishing 20 points shy of 12,000.

Japan's stocks climbed for a second straight session on Tuesday, breaching a key resistance level as it regained some of the ground lost last week, helped by anticipation of upbeat corporate earnings.

The benchmark Nikkei ended the day up 1.2 percent, or 119.31 points, at 10,464.42. The broader Topix index added 1.3 percent to 929.28.

Canon and Kyocera as well as Japan's biggest personal computer firm, NEC, will report earnings this week and could set the tone of the October-December earnings season lasting until early February.

Banking shares staged a rally as foreigners bought up financial stocks. Mitsubishi UFJ Financial Group, Japan's largest bank by assets, rose 3.0 percent, while Sumitomo Mitsui Financial Group added 1.4 percent to 2,934 yen.

But Resona Holdings fell 5.1 percent after it said it would raise $6.6 billion in its global share offering, less than expected, in a sign that investors are skeptical of the Japanese bank's growth prospects as it weans itself from government control.

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