Ramsey
22-08-2002, Thu 9:28 AM
عن دواوجونز نيوزواير
ASIAN SUMMARY: Japanese Stocks Rise On Improving Dollar
USD-Yen 118.96 gain 0.40 up 0.4%
AUD-USD 0.5426 loss 0.0016 dn 0.3%
Nikkei 225 9753.54 gain 110.93 up 1.1%
Hang Seng 10375.70 loss 26.48 dn 0.3%
JGB Yield 1.2700% down 0.02
TOKYO (Dow Jones)--Tokyo stocks were slightly stronger Thursday morning, after seesawing in early trading despite gains on Wall Street overnight. The dollar was higher against the yen.
The Nikkei opened higher, then quickly reversed course midmorning only to rebound by the midday break as the dollar surged against the yen. Technology blue chips Fujitsu, Hitachi and Sony were higher.
However, the blue-chip index was held back by a lack of market-moving news, the murky U.S. stock outlook and concerns that Japanese corporate investors may sell their shares in Tokyo to pad stockholding profits ahead of the fiscal first-half ending in September, traders said.
In the currency market, the dollar rose against the yen, following economic data Thursday showing that Japan's economy remains fragile.
Japan's global trade surplus shot up 80.3% to Y752 billion from Y417 billion last July, the government announced, underlining how soaring exports continue to drive the nation's shaky economic recovery.
The revival in exports has helped rescue the world's second-largest economy from a decade-long slowdown, despite still sluggish consumer demand at home. But Japan's dependence on exports for growth and the hazy economic outlook for the United States raises questions about the staying power of the Japanese recovery.
The dollar rebounded from New York trading, where it dipped after three U.S. Federal Reserve presidents gave generally positive commentary on the U.S. economic outlook. The remarks quashed speculation of imminent interest-rate cuts in the United States.
The euro traded at 116.30 yen, up from 115.84 yen late Wednesday in Tokyo.
The yield on the benchmark 10-year Japanese government bond fell to 1.2700% from 1.2900% Wednesday.
ASIAN SUMMARY: Japanese Stocks Rise On Improving Dollar
USD-Yen 118.96 gain 0.40 up 0.4%
AUD-USD 0.5426 loss 0.0016 dn 0.3%
Nikkei 225 9753.54 gain 110.93 up 1.1%
Hang Seng 10375.70 loss 26.48 dn 0.3%
JGB Yield 1.2700% down 0.02
TOKYO (Dow Jones)--Tokyo stocks were slightly stronger Thursday morning, after seesawing in early trading despite gains on Wall Street overnight. The dollar was higher against the yen.
The Nikkei opened higher, then quickly reversed course midmorning only to rebound by the midday break as the dollar surged against the yen. Technology blue chips Fujitsu, Hitachi and Sony were higher.
However, the blue-chip index was held back by a lack of market-moving news, the murky U.S. stock outlook and concerns that Japanese corporate investors may sell their shares in Tokyo to pad stockholding profits ahead of the fiscal first-half ending in September, traders said.
In the currency market, the dollar rose against the yen, following economic data Thursday showing that Japan's economy remains fragile.
Japan's global trade surplus shot up 80.3% to Y752 billion from Y417 billion last July, the government announced, underlining how soaring exports continue to drive the nation's shaky economic recovery.
The revival in exports has helped rescue the world's second-largest economy from a decade-long slowdown, despite still sluggish consumer demand at home. But Japan's dependence on exports for growth and the hazy economic outlook for the United States raises questions about the staying power of the Japanese recovery.
The dollar rebounded from New York trading, where it dipped after three U.S. Federal Reserve presidents gave generally positive commentary on the U.S. economic outlook. The remarks quashed speculation of imminent interest-rate cuts in the United States.
The euro traded at 116.30 yen, up from 115.84 yen late Wednesday in Tokyo.
The yield on the benchmark 10-year Japanese government bond fell to 1.2700% from 1.2900% Wednesday.