Ramsey
07-08-2002, Wed 11:30 AM
عن دواوجونز نيوزواير
ASIAN SUMMARY: Japanese Stocks Stage Powerful Rally
USD-Yen 120.94 gain 0.13 up 0.1%
AUD-USD 0.5298 loss 0.0010 dn 0.2%
Nikkei 225 9806.01 gain 304.99 up 3.2%
Hang Seng 9875.30 gain 174.61 up 1.8%
JGB Yield 1.2800% up 0.02
TOKYO (Dow Jones)--Tokyo stocks rallied Wednesday morning, buoyed by Wall Street's rebound. The U.S. dollar was higher against the yen.
The Nikkei - which often takes its cue from Wall Street - rebounded in early trading as investors were cheered by an upturn in U.S. equities and a weakening yen.
Gains were widespread but notable advancers were high-tech blue chips Sony, Canon and Kyocera, which had taken a beating earlier this week from the Nasdaq's fall. Auto issues, including Honda, Toyota and Mazda, were also up as the yen weakened relative to the dollar.
A weaker yen helps boost Japan's export-heavy economy by making Japanese goods seem cheaper overseas.
In currency dealings, the dollar rose against the yen as investors were encouraged to buy back the dollar to invest in rallying U.S. stocks.
The euro was traded at 116.92 yen, up from 116.85 yen late Tuesday in Tokyo.
The yield on the benchmark 10-year Japanese government bond was down at 1.2800 from 1.3000 Tuesday. Its price rose 0.21 to 100.21. The Bank of Japan said Wednesday it offered to buy Y250.0 billion in Japanese government bonds outright Aug. 12, a move that supported the market.
ASIAN SUMMARY: Japanese Stocks Stage Powerful Rally
USD-Yen 120.94 gain 0.13 up 0.1%
AUD-USD 0.5298 loss 0.0010 dn 0.2%
Nikkei 225 9806.01 gain 304.99 up 3.2%
Hang Seng 9875.30 gain 174.61 up 1.8%
JGB Yield 1.2800% up 0.02
TOKYO (Dow Jones)--Tokyo stocks rallied Wednesday morning, buoyed by Wall Street's rebound. The U.S. dollar was higher against the yen.
The Nikkei - which often takes its cue from Wall Street - rebounded in early trading as investors were cheered by an upturn in U.S. equities and a weakening yen.
Gains were widespread but notable advancers were high-tech blue chips Sony, Canon and Kyocera, which had taken a beating earlier this week from the Nasdaq's fall. Auto issues, including Honda, Toyota and Mazda, were also up as the yen weakened relative to the dollar.
A weaker yen helps boost Japan's export-heavy economy by making Japanese goods seem cheaper overseas.
In currency dealings, the dollar rose against the yen as investors were encouraged to buy back the dollar to invest in rallying U.S. stocks.
The euro was traded at 116.92 yen, up from 116.85 yen late Tuesday in Tokyo.
The yield on the benchmark 10-year Japanese government bond was down at 1.2800 from 1.3000 Tuesday. Its price rose 0.21 to 100.21. The Bank of Japan said Wednesday it offered to buy Y250.0 billion in Japanese government bonds outright Aug. 12, a move that supported the market.