Japanese shares gain on growing U.S. services industry

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Source: Dukascopy Bank SA
Japanese equities extended their gains, as the U.S. services industry accelerated its growth pace to the fastest in a year on rising optimism over more monetary stimulus. The Nikkei 225 Stock Average jumped 2.1% to 11,932.27, yet with the total volume declining by 22%. All sectors within the gauge edged higher, especially the blue chip companies exporting to the U.S. Sharp Corporation rallied 14% to close at 341 yen. The company announced that Samsung will buy its shares of 10.4 billion yen, hence raising capital and strengthening trust between the two electronic firms. Dainnipon Screen Manufacturing Co followed with a 8.8% surge to lift industrial shares, while Fast Retailing Co soared 8.1% after the apparel chain's price target was raised from 16,800 yen to 25,000 yen at Deutsche Bank AG. On the downside, Nippon Paper Group to cap gains in basic materials.


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Wed, 06 Mar 2013 15:47:03 GMT

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Wed, 06 Mar 2013 19:33:03 GMT

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