The Automobile Inspection & Registration Information Association reported Tuesday the number of private cars owned by Japanese families rose 0.7% to 57.2 million at the end of March. Per household the number of privately owned cars fell to 1.107 due to slower sales of larger vehicles.

Industrial shares led the Tokyo upsurge. Of the Nikkei 225 index stocks, NGK Insulators led with a gain of 7.9% followed by Chiyoda Corp up 6.31%. Marubeni Corp rose 6% after clinching a 30-year electricity deal with a Jakarta government firm, PT Perusahaan Listrik Negara (Persero). Under the contract, Marubeni will supply electricity to western Java for the coming 3 decades. Mitsui & Co rose 5.9% while Nippon Sheet Glass added 7.75%. At least 19 shares fell more than 1% in the index. Meiji Seika led losing 2.72% followed by Tokyo Gas Co Ltd down 2.64%. Oji Paper Co Ltd and Takara Holdings lost 2.6% and 2.4% respectively while GS Yuasa Corp anchored the top 5 losses down 2.31%.

Nissan Diesel Motor Co shareholders on Tuesday ratified the truck maker's plan to become a wholly owned subsidiary of AB Volvo. In March, the Swedish truck maker had already acquired a 96% stake in Nissan Diesel. Nissan Motor closed up 2.5%.
In Sydney trading ASX 200 Index marginally rose 0.96% to 5 989.40 amid volatility in metal stocks. The Federal Government generated budget surplus of A$17.3 billion in the fiscal 2007 and exceeded the estimate by A$3.7 billion. The Aussie dollar closed higher at 0.8018 for one U.S. dollar from 0.7976 yesterday’s close. Traders remained anxious over a U.S. Federal Reserve meeting Tuesday for any more measure to ease tight liquidity conditions in the U.S.

Of the ASX 200 stocks, Mincor Resources led putting on 10.40% followed by Downer EDI Ltd up 8.51% and Jubilee Mines NL rising 7.5%. Minara Resources added 6.1% while Arrow Energy lifted 6%. Several other metal shares were seen on the downside. Compass Resource led shedding 5.34% with Pacific Brands falling 4.35%. Oil Search Ltd lost 4.12%, Centennial Coal down 3.82% and Sino Gold Mining retreating 3.24%.

Virgin Blue reported Tuesday full-year to June 30 net profit up 92.3% to A$216 million. Earnings per share increase to 20.6 cents from 10.7 cents while revenue was up 16.3% to A$2.2 billion. A final dividend of 2 cents per share, down from 25 cents per share was declared.