7:45AM Asian markets slightly recovered.
Asian-Pacific benchmarks rebounded from recent declines to close slightly higher. The Nikkei erased early losses to finish up 0.2% at 17,199.15, supported by technology and bank issues which gained ground after three weak sessions. The market recovery followed a decision by UBS to raise its year-end Topix target on strong corporate results. Gainers included Tokyo Electron, up 3.1%, Canon, up 1.1%, and Sony rising 1.7%. Across the region Taiwan Weighted index closed at a two-year high of 0.7% on strong tourism and construction shares, boosted by expectations of improved trade relations with China. Hong Kong’s Hang Seng rose 0.7% helped by tech stocks. South Korean Kospi rallied 1.6%, while China Shanghai Composite sharply dropped by 2