Nikkei rose on hopes for further Fed easing

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Source: Dukascopy Bank SA
Japanese shares soared on Wednesday, tracking gains of US stock market. Market sentiment was further supported by hopes the Fed will continue its easing measures. Boosting exporters, the Yen depreciated against its US counterpart, attaining a 31-month low. The Nikkei 225 Index surged 2.28% to finish above 11,000 for the first time since April 2010. All but one sector rallied. Telecommunications and consumer goods led gains. KDDI posted upbeat operating profit and saw its shares climb 3.06%. Nippon Telegraph & Telephone followed KDDI trend, adding 0.80%. Among consumer goods, Ajinomoto and Maruha Nichiro Holdings jumped 1.37% and 2.58%. The top-performer was Yahoo Japan, surging 17.14%. The firm reported positive quarterly results and announced a share buyback. Meanwhile, Softbank Corp. jumped 3.59% as the Internet corporation was expected to saw a 10% increase in operating profit in the period between April and December due to strong iPhone sales. Dragging Japanese stock index lower, Alps Electric and Tokyo Gas slumped 1.22% and 1.15%.
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Wed, 30 Jan 2013 16:10:02 GMT

Hong Kong shares rally; Hang Seng at 21-month high

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