Asian Markets Round-Up 25 May
Investors trading at a brokerage house in Fuyang, Anhui province, China, on 25 MayReuters

Asian markets outside India traded higher on 25 May after Beijing said it was seeking private funding for over $300bn (£193.7bn, €273.3bn) worth of public projects.

Markets in Tokyo and Shanghai struck fresh multi-year highs. But trading was thin in Asia as markets in Hong Kong and South Korea were shut for public holidays.

The Japanese Nikkei finished 0.74%, or 149.36 points, higher at 20,413.77.

The Shanghai Composite finished 3.35%, or 156.20 points, higher at 4,813.80.

Australia's S&P/ASX finished 1.00%, or 56.80 points, higher at 5,721.50.

India's S&P BSE Sensex finished 1.12%, or 313.62 points, lower at 27,643.88.

Market movements

The Shanghai Composite was boosted by infrastructure and transport stocks. The nation's state planning agency, on 25 May, put out a list of over 1,000 proposed projects that private investors could help fund, build and operate.

However, the National Development and Reform Commission (NDRC) statement, published on its website, did not state whether private investors will include foreign firms.

Company stocks

In Tokyo, Fukushima-operator Tokyo Electric Power (Tepco) shot up 6.67% on news that Tepco and Mitsubishi had bagged an order to build a 2.4 gigawatt power plant in Qatar.

Sharp jumped 4.22% while Sony gained 2.28%.

In Shanghai, China Shipbuilding Industry finished 10.1% higher. China Railway Construction and China Railway Group settled 8.19% and 7.73% higher.

Agricultural Bank of China finished 2.90% higher while China Construction Bank gained 2.40%.

Bank of China, Bank of Communications and and ICBC gained 2.19, 2.18% and 2.06% respectively.

In Sydney, miner Independence Group tanked 11.97% after it launched a A$1.8bn ($1.4 billion) cash-and-stock takeover bid for rival Nickel developer Sirius Resources.

Sirius soared 20.37%.

Recruiter Skilled Group surged 11.79% after it said it was entering takeover talks with Programmed Group.

Fortescue Metals jumped 2.84% on the back of a 3.5% rise in iron ore prices. Rival BC Iron added 2.47%.

Medical facilities operator Healthscope added 2.56% after the Australian Financial Review reported that the firm was in talks to sell its pathology business.