Exporters bounce on Asian equity markets Asian stocks bounced strongly on Friday after an early morning deal was reached in Brussels at talks between eurozone leaders. The EU deal included concessions for Spain and Italy and also brought in changes to banking supervision that, it is hoped, will presage some form of banking union. Stocks across Asia, which had been struggling ahead of the announcement by Herman Van Rompuy, European Council president, turned higher immediately after the news broke, corresponding with gains for other risk assets on currency and bond markets. The FTSE Asia Pacific index climbed 2 per cent to 226.36. In Tokyo, many of the stocks that had been languishing under concerns of their exposure to Europe, were at the top of the Nikkei 225. The benchmark index climbed 1.5 per cent to 9,006.78. Mazda Motor, Japan's most export-reliant car manufacturer, realises up to a fifth of its earnings from Europe. Its shares climbed 3.9 per cent to Y107, leading a broad rally for the country's auto stocks. Suzuki Motor gained 3.3 per cent to Y1,621, Honda Motor added 3.2 per cent to Y2,749 and Isuzu Motors rose 2.7 per cent to Y423. Olympus, the camera maker that achieves nearly 20 per cent of its sales in Europe, climbed 3.3 per cent to Y1,288. In China, the Shanghai Composite rose for the first time after seven straight sessions of losses. The index rose 1.4 per cent to 2,225.43. Shipping groups were high up the leaderboard on hopes that global growth would see a revival after the eurozone deal. Dalian Port climbed 6.8 per cent to Rmb2.99, while Jinzhou Port added 7 per cent to Rmb4.11. Hong Kong's Hang Index jumped 2.2 per cent to 19,441.46 as its shipping groups also benefited. Cosco Pacific gained 5.3 per cent to HK$10.50 and China Merchants Holdings rose 4.2 per cent to HK$23.45. Australian retailers outperformed the regional markets after department store operator David Jones said it had received an unsolicited takeover approach from "a non-incorporated UK entity." Shares in David Jones soared 14.6 per cent to A$2.59. Rivals also rallied. Myer Holdings jumped 4.9 per cent to A$1.62, and Harvey Norman Holdings advanced 2.6 per cent to A$1.95. The S&P/ASX 200 climbed 1.2 per cent to 4,094.63.