Nissan Motor Co. (NASDAQ-SMALL:NSANY) (NSANY) (7201.TO) Chief Executive and President Carlos Ghosn said Wednesday the company will focus on electric cars as a core "green car" product for the mass market, even as major rivals step up offerings of hybrid cars. Shares rose 3.2% to $16.90.
Shares of Honda Motor Co.'s (NYSE:HMC) (HMC) rose 3.5% to $35.98 after the Chinese government announced that it has decided to offer tax incentives to those buying eco-friendly automobiles such as hybrids and diesel-engine vehicles, a move that would lower prices by almost 10%, The Nikkei reported in its Thursday morning editions.
Asian ADRs Wednesday closed mostly higher, with India and South Korea ADRs trading up across the board. Sify Technologies Ltd. (NASDAQ-NMS:SIFY) ( SIFY (NASDAQ-NMS:SIFY) ) rose 2.9% to $3.88, Rediff.com India Ltd. (NASDAQ-NMS:REDF) (REDF) gained 2.4% to $6.75, SK Telecom Co. (NYSE:SKM) (SKM) increased 2.5% to $21.48 and Korea Electric Power Corp. (NYSE:KEP) (KEP) added 2.4% to $ 14.76.
-By Aja Carmichael, Dow Jones Newswires; 201-938-5218, aja.carmichael@ dowjones.com
(END) Dow Jones Newswires 06-25-08 1738 Copyright (c) 2008 Dow Jones & Company, Inc.
