Japanese shares soared on weaker Yen

Source: Dukascopy Bank SA
© Scanpix/Reuters
Japanese equities continued their rally on Wednesday on upbeat US data and easing concerns over indebted eurozone. Weaker Yen also supported Japanese stock index, pushing exporters higher. The Yen depreciated to one-month low against the US Dollar. Moreover, worries over poor corporate earnings eased after US counterparts started to report strong results in Q3. The Nikkei 225 Index surged 1.21% to close at 8,806.55. All sectors within the index surged. The top-gainers were telecommunications and consumer services. KDDI Corp and Softbank advanced 1.01% and 5.63% while Dai Nippon Printing and Secom rose 2.87% and 0.63%. Mitsubishi gained 0.51% after Nikkei daily reported that it would buy a 20% stake in Star Energy, Indonesian utility company. Yahoo Japan surged 4.56% as investors hoped that the new service introduced on Tuesday will increase number of customers.


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Wed, 17 Oct 2012 16:30:25 GMT

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