Japanese equities jumped on positive US headlines

Source: Dukascopy Bank SA
© Scanpix/AFP
Japanese shares jumped on Friday, drawing strength from Wall Street's rally and softer Yen. Japan's equities gained momentum on news that US CB consumer confidence reached record high in October. The Nikkei 225 Index skyrocketed 1.17% to end the week at 9,051.22. Nine out of ten sectors within the index advanced. Telecommunications and financials posted the biggest gains. KDDI and Nippon Telegraph & Telephone climbed 1.95% and 0.83% while Bank of Yokohama and Fukuoka Financial Group added 0.55% and 0.96%. Meanwhile, technology shares were mixed. Sony Corp. jumped 2.08% after reporting smaller-than-expected quarterly loss. Sharp slumped 2.37% after warning that the company may not survive. Panasonic plunged 0.72% after S&P downgraded the company's rating to BBB. On Thursday, Panasonic forecasted 30 times larger loss than experts predicted, citing weak demand and restructuring costs. At the same time, Nikon Corp sank 6.09% after cutting its full-year profit estimate.

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Fri, 02 Nov 2012 10:18:26 GMT

U.K. construction PMI grew unexpectedly last month

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