ID :
201270
Mon, 08/15/2011 - 07:27
Auther :
Shortlink :
https://oananews.org//node/201270
The shortlink copeid
Tokyo Stocks Turn Higher in Morning
Tokyo (Jiji Press) - Stocks turned higher on the Tokyo Stocks Exchange Monday morning thanks to Wall Street's rise late last week.
At the morning close, the 225-issue Nikkei average was up 78.18 points, or 0.87 pct, at 9,041.90, recouping the 9,000 threshold for the first time in three trading days. On Friday, the key market gauge lost 18.22 points.
The TOPIX index of all first-section issues was up 4.76 points, or 0.62 pct, at 772.95, after falling 2.69 points the previous trading day.
The Tokyo market kicked off the week with hefty gains in the wake of U.S. shares' continued rise Friday on robust U.S. retail sales data for July, brokers said.
The yen's moderate weakening against other major currencies also lent support to the market.
Better-than-expected Japan's April-June gross domestic product data, announced before the opening bell, had only a limited impact, said Masayuki Otani, chief market analyst at Securities Japan Inc.
"The brisk U.S. retail sales data somewhat eased investor concerns over the course of the U.S. economy," said Toshiyuki Kanayama, market analyst at Monex Inc.'s Financial Intelligence Department.
The retail sales data rose 0.5 pct from the previous month, the highest increase in four months.
But market players still hope to confirm upcoming key U.S. economic indicators such as the Federal Reserve Bank of New York's regional manufacturing activity survey for August, due out later on Monday, industrial production data for July and housing starts data for July, both to be released Tuesday, and the Federal Reserve Bank of Philadelphia's manufacturing index for August, due out Thursday, brokers said.
"Buybacks of mainstay issues after last week's plunge pushed up the Nikkei," Kanayama said.
Winners eclipsed losers 934 to 543 on the TSE's first section in the morning, while 178 issues were unchanged.
Half-day volume came to 653 million shares.
Export-oriented issues attracted purchases after tumbles last week. Among them were high-tech makers Canon, Sony, Hitachi and Fanuc as well as automakers Toyota, Nissan and Honda.
Tire makers Bridgestone, Sumitomo Rubber and Yokohama Rubber were upbeat, along with construction machinery maker Komatsu and Hitachi Construction.
Fast Retailing rewrote its year-to-date high.
Meanwhile, power utilities Chubu Electric and Kansai Electric lost ground, as did Oji Paper and Nippon Paper.
Mobile game site operator Gree came under profit-taking, snapping its four-session winning streak.
At the morning close, the 225-issue Nikkei average was up 78.18 points, or 0.87 pct, at 9,041.90, recouping the 9,000 threshold for the first time in three trading days. On Friday, the key market gauge lost 18.22 points.
The TOPIX index of all first-section issues was up 4.76 points, or 0.62 pct, at 772.95, after falling 2.69 points the previous trading day.
The Tokyo market kicked off the week with hefty gains in the wake of U.S. shares' continued rise Friday on robust U.S. retail sales data for July, brokers said.
The yen's moderate weakening against other major currencies also lent support to the market.
Better-than-expected Japan's April-June gross domestic product data, announced before the opening bell, had only a limited impact, said Masayuki Otani, chief market analyst at Securities Japan Inc.
"The brisk U.S. retail sales data somewhat eased investor concerns over the course of the U.S. economy," said Toshiyuki Kanayama, market analyst at Monex Inc.'s Financial Intelligence Department.
The retail sales data rose 0.5 pct from the previous month, the highest increase in four months.
But market players still hope to confirm upcoming key U.S. economic indicators such as the Federal Reserve Bank of New York's regional manufacturing activity survey for August, due out later on Monday, industrial production data for July and housing starts data for July, both to be released Tuesday, and the Federal Reserve Bank of Philadelphia's manufacturing index for August, due out Thursday, brokers said.
"Buybacks of mainstay issues after last week's plunge pushed up the Nikkei," Kanayama said.
Winners eclipsed losers 934 to 543 on the TSE's first section in the morning, while 178 issues were unchanged.
Half-day volume came to 653 million shares.
Export-oriented issues attracted purchases after tumbles last week. Among them were high-tech makers Canon, Sony, Hitachi and Fanuc as well as automakers Toyota, Nissan and Honda.
Tire makers Bridgestone, Sumitomo Rubber and Yokohama Rubber were upbeat, along with construction machinery maker Komatsu and Hitachi Construction.
Fast Retailing rewrote its year-to-date high.
Meanwhile, power utilities Chubu Electric and Kansai Electric lost ground, as did Oji Paper and Nippon Paper.
Mobile game site operator Gree came under profit-taking, snapping its four-session winning streak.
