Asian fish processing stocks surged on speculation consumers will turn to seafood after a cow in the US contracted mad cow disease and amid outbreaks of bird flu and swine fever in South Korea.
Dongwon Industries and Japan's Kyokuyo gained. McDonald's Holdings Japan fell for a third day.
Asian fish stocks have soared last week as the US announced a case of mad cow disease. In Korea, thousands of chickens have been slaughtered after the Government said bird flu was spreading, while swine fever was detected in the country.
“Consumers probably won't enjoy eating chicken, pork and beef for the time being,†said Kim Yung Min, who manages $US125 million ($170 million) at Dongwon Investment Trust Management in Seoul. “For seafood processors, it's a good chance to see shares jump, though they are overshooting a bit.â€
By the lunchtime break last week Friday, Dongwon Industries; South Korea's biggest producer of canned fish and processed seafood, Sajo Industries and Oyang Fisheries had all surged by their daily 15 per cent limits.
In Japan recently, fish and farm companies were the second-biggest percentage gainers among the Topix's 33 industry groups after steel stocks, extending Thursday's 2.3 per cent advance.
Kyokuyo, which distributes seafood and salted fish products such as bonito and tuna, added 5 per cent, extending yesterday's 8.1 per cent gain.
Maruha Corporation, which sells seafood products such as raw fish and scallops, rose 2.1 per cent to 144. Maruha climbed 4.4 per cent.
McDonald's Holdings Japan declined 2.8 per cent for a three-day drop of 9.3 per cent.
Even though the hamburger restaurant gets all of its burger beef from Australia, investors are concerned Japan's ban on US beef imports will raise prices.