Japanese Nikkei peaks on Chinese equities and weakening Yen

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© scanpix/AFP
Asian stocks advanced on gains in Chinese equities, as Communist Carty chief raised optimism on economic recovery in China. In addition, risk appetite rose, after Yen depreciated against the greenback, thus boosting up the shares of Japanese exporters.  The Nikkei 225 index gained 0.39% to 9,468.84, rebounding from its previous losses of 0.6%. Driven by exporters and hopes for further monetary easing after the election, the reading has increased 9.3% during the last three weeks. All but one sector advanced with Consumer Services jumping 1.91%, Oil and Gas advancing 0.37% and Health Care improving 0.36%. The only sector posting losses was Financials by tumbling 0.68%. The company gaining the most was Sharp Corporation with a 4% increase, followed by Fast Retailing and NEC Corporation which rallied 3% and 2.68%, respectively. Fast retailing added up to 19,250 yen, after it announced in a statement that the company's sales surged 13.7% last month. Meanwhile, Japanese biggest liquid crystal-display maker Sharp Corporation advanced to 181 yen on announcement about plans to sell shares to Qualcomm Inc. The shares of Nisshin Steel Holdings declined the most by 4.25%, whereas NTN Corporation and Nipon Paper Group decreased 4.07% and 3.46%, subsequently.


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