Nikkei rebounds from its losses earlier this week

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Source: Dukascopy Bank SA
Japanese stocks reversed their previous losses this week and edged higher after reports showed the economic data in China improved and U.S. economy showed some positive signs with improving housing and less jobless claims. In addition, the Yen traded close to is lowest level in 30 months. The Nikkei Stock Average rallied 2.9% and reached its highest level in more than two years. All sectors in the gauge advanced with technology jumping 5.14%, the most in the index. Kawasaki Kisen Kaisha gained the most with its shares rallying 13.1% to pace gains in the industrial shares that were 3% up. Sony Corporation, in turn, led gains in the technology sector as it surged 12.21%. Furthermore, Mazda Motor Corporation increased 11.&% to 220 yen and contributed to the 3% increase in the consumer goods group. Meanwhile, Taisei Corporation declined 1.43% and halted further gains in the industrials shares, whereas Obayashi Corporation erased 1.27%, also capping gains in the industrials.
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Fri, 18 Jan 2013 13:38:04 GMT

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