The Petersburg based aluminium producer Alcoa projected its 2010 aluminium consumption demand on Monday and posted significantly higher second-quarter sales and profit, which is a good sign for the growth of the economy. Alcoa will be foraying into the markets of China and Australia.

The Second-quarter net income of Alcoa was $136 million a net loss of $454 million a year earlier. Sales gained 22 percent to $5.19 billion.

On account of this news, many of the Asian shares gained value. The Shipping Stock of the Nippon Yusen, a Tokyo based Company, was up 0.6% at Y335 as the Company showed positive signs on increasing the cargo fleet by 40 vessels.

Mitsui O. S. K. Lines was down 0.3% at Y587. Nissan Motor was off 2.1%.

Alumina, which has a joint venture with Alcoa in Alcoa World Alumina and Chemicals, was up by 1.3%.

On Monday, Major Banks were up 0.6% to 1.7%. BHP Billiton's share was down by 1.5% and Rio Tinto dropped by 1.9% on the weakness in Wall Street's materials sector.

Infosys Technologies, a leading IT company of India climbed down by 2.2% in early trade, after its first quarter consolidated net profit dropped 2.4%, not meeting market expectations.

U. S. dollar revenue guidance rose for the fiscal year 2011 to $5.72 billion to $5.81 billion.

The Smartphone maker HTC in Taiwan moved up by 1.8% on the news of Company launching a share buyback plan.

Korean Air Lines was up by 0.5% and Asiana Airlines was up by 1.5%. KB Financial Group was up by 1.2% and Hana Financial Group also advanced by 2.8%.