Tokyo stocks rose on upbeat US output data
- Source: Xinhua
- [16:33 September 17 2009]
- Comments
Tokyo stocks rose sharply Thursday on stronger-than-expected US industrial output data that brought fresh optimism over a global economic recovery.
The benchmark Nikkei 225 Average advanced 173.03 points, or 1.68 percent, to 10,443.80, rising for the third consecutive day.
The broader Topix index gained 8.09 points, or 0.87 percent, to 939.52.
"The Japanese market rose in line with overnight gains on Wall Street and robust increases in Asian markets. Sentiment was upbeat due to better-than-expected US industrial output data" for August, Masatoshi Sato, market analyst at Mizuho Investors Securities Co. Ltd, was quoted as saying.
The better-than-expected output figure was the latest sign showing the global economy is on its way to recovery," said Sato.
Gainers were led by iron and steel, mining and nonferrous metal issues while banking, real estate and consumer finance shares were among the major decliners.
Among blue chips, Toyota Motor rose 1.9 percent to 3,780 yen while Sony jumped 60 yen, or over 2 percent, to 2,535 yen. Honda Motor edged down 0.2 percent to 2,805 yen and Nissan Motor was up 3.4 percent at 613 yen.
Value leader Sumitomo Mitsui Financial Group shed 200 yen, or almost 6 percent, to 3,360 yen while volume leader Mizuho Financial Group dipped 3 yen, or over 1 percent, to 192 yen.
On the First Section, advancing issues beat declining ones, 1,133 to 442.
Trading volume on the main section expanded to 2,002.59 million shares from 1,952.51 million Wednesday.
The TSE's Second Section index fell 10.32 points, or 0.45 percent, to 2,275.11 on a volume of 34.09 million shares.
On the Osaka Securities Exchange, the near-term December Nikkei225 index futures contract climbed 170 points to 10,380.
