Japanese shares rebound from Cyprus bailout fear

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Japanese stocks surged on Tuesday, after news the Cyprus' parliament most probably will not pass a new bank levy. Nikkei 225 jumped 2%, or 247.60 points, to 12,468.23, the highest since 2008. All the sectors included in the gauge posted gains and 209 out of 225 companies rose. The leaders were consumer services and technology sectors, adding 2.6% and 2.4%, respectively. Taiyo Yuden Co Ltd rallied 8.2%, to 1,236 yen, the highest since March 2011. Sumco Corp traded up 7.4% to 1,041 yen, after Citigroup raised the silicon wafer makers' target price to 1,200 yen from 850 yen. Sony Corp., one of the largest electronics manufacturers in the world, closed the top-three performers with a 6.8% increase to 1,661 yen, as it plans to introduce two new Xperia smartphones in the second quarter of 2013. Meanwhile, a number of companies posted losses. On the downside, Inpex Corp that declined  1.2% to 513 yen after the company posted marginal losses. Toray Industries Inc. and Nippon Paper Group followed with a 1.1% decline for both companies.

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Tue, 19 Mar 2013 14:49:07 GMT

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