Asian shares extended gains on Tuesday while the dollar held near a two-month peak against the yen, as investor fears over a possible recession in the United States subsided.
Japan's Nikkei average rose 1 percent, led by high-tech exporters, such as Advantest Corp, as Tokyo caught up with Friday's record-setting rally on Wall Street. Japanese markets were closed on Monday for a national holiday.
By 8:53 p.m. Monday EDT, MSCI's measure of Asia Pacific stocks excluding Japan (.MIAPJ0000PUS: Quote, Profile, Research) was flat. On Monday, it added 0.3 percent to a record closing high.
Australia's S&P ASX 200 rose 0.2 percent, South Korea shares (.KS11: Quote, Profile, Research) gained 0.3 percent and Taiwan stocks (.TW11: Quote, Profile, Research) opened up 0.3 percent.
Worries about a U.S. economic downturn and its global fallout receded on Monday, lifting the dollar and Asian stocks, though European shares took a breather after a five-session rally.
The Dow Jones industrial average fell 0.16 percent, while the Nasdaq Composite Index inched up 0.25 percent.SINGAPORE (Reuters) -
Showing posts with label Nikkei average. Show all posts
Showing posts with label Nikkei average. Show all posts
Tuesday, October 9, 2007
Nikkei up 0.9 pct as exporters rise
The Nikkei average rose 0.9 percent on Tuesday, buoyed by exporters such as Advantest Corp (6857.T: Quote, Profile, Research) after Friday's record-setting rally on Wall Street and on a softer yen, while Toray Industries Inc (3402.T: Quote, Profile, Research) jumped on news it plans to begin mass production of carbon fiber auto parts.
Japanese markets were closed on Monday for a national holiday.
Shares of Softbank Corp (9984.T: Quote, Profile, Research) climbed after Japan's smallest mobile phone carrier won most users last month, while Olympus Corp (7733.T: Quote, Profile, Research) gained on a report it had probably beaten its own earnings forecast.
"Exporters are leading gains as the better-than-expected U.S. jobs data eased concerns about fallout from the subprime problems. The softening yen is also supporting the advances," said Hiroaki Kuramochi, managing director at Bear Stearns.
"But the market is not likely to keep rising as it lacks domestic trading factors. It needs to watch external factors such as U.S. stock moves and the currency."
Yutaka Miura, deputy manager of the equity information department at Shinko Securities, said investors are likely to take a wait-and-see attitude as concerns about the U.S. economic slowdown had not been completely wiped out.TOKYO (Reuters) -
Japanese markets were closed on Monday for a national holiday.
Shares of Softbank Corp (9984.T: Quote, Profile, Research) climbed after Japan's smallest mobile phone carrier won most users last month, while Olympus Corp (7733.T: Quote, Profile, Research) gained on a report it had probably beaten its own earnings forecast.
"Exporters are leading gains as the better-than-expected U.S. jobs data eased concerns about fallout from the subprime problems. The softening yen is also supporting the advances," said Hiroaki Kuramochi, managing director at Bear Stearns.
"But the market is not likely to keep rising as it lacks domestic trading factors. It needs to watch external factors such as U.S. stock moves and the currency."
Yutaka Miura, deputy manager of the equity information department at Shinko Securities, said investors are likely to take a wait-and-see attitude as concerns about the U.S. economic slowdown had not been completely wiped out.TOKYO (Reuters) -
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