Nikkei rebounds as the Yen weakens

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Source: Dukascopy Bank SA
Japanese equities rallied, sending the Nikkei 225 index to its first gain this week, as the Yen depreciated on Chinese manufacturing data that boosted the profit outlook for companies practicing their business there. The Nikkei Stock Average advanced 1.3% to 10,620.87. All but one group in the gauge inched higher. Dainippon posted the best results in the index with its shares jumping 15.66% to 1270 yen to contribute to health care sector that rose 2.1%, the most in the index. Furthermore, Mazda Motor Corporation increased 9.1% to 228 yen to pace gains in consumer goods stocks that added 1.44%, followed by a holding company Daiwa Securities Group Inc. that climbed 5.1% to 458 yen to lift financials that advanced 1.7%. Meanwhile, utilities were the only group declining, down nearly 1%, as Kansai Electric Power shrank 4.4% after NHK, public broadcaster, informed that Shunichi Tanaka, the chairman of Nuclear Regulation Authority, has said that nuclear reactors that do not meet safety standards must be closed. Yasaka Electric Corp. decreased 4.1% to also pace losses in the utilities group.
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Thu, 24 Jan 2013 15:41:05 GMT

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