Arab Today, arab today asia shares gain tokyo jumps as yen tumbles
Last Updated : GMT 21:34:00
Arab Today, arab today
Arab Today, arab today

Asia shares gain, Tokyo jumps as yen tumbles

Arab Today, arab today

Arab Today, arab today Asia shares gain, Tokyo jumps as yen tumbles

Hong Kong - AFP

Asian shares were mostly higher Wednesday, with the tumbling yen pushing Japanese stocks to a fresh multi-year high as improving confidence in the US economy boosted prospects for regional exporters. Tokyo's benchmark Nikkei jumped 2.29 percent, climbing above the psychologically key 15,000-mark for the first time in more than five years to end at 15,096.03 as the greenback surged through the 102-yen level following record-setting gains on Wall Street. "Renewed yen weakening should help Japan stocks to set fresh year highs, helped by fresh investor fund flows and faith in an accelerating global economy," said SMBC Nikko Securities general manager of equities Hiroichi Nishi. Trading on Japan's premier bourse was heavy, with "the numbers reflecting a wide range of participation -- from domestic individuals to overseas foreign funds, and could lend strong staying power to the market", Yoshihiro Okumura, general manager at Chibagin Asset Management, told Dow Jones Newswires. Foreign investors have been piling into the Tokyo market in recent months, helping send it rocketing to multi-year highs as a new government in Japan vows to stoke the long-stagnant economy. Sony shares soared after a US hedge fund, one of its biggest investors, called on the company to sell off part of its entertainment unit, with the shares jumping 10.38 percent to 2,072 yen. Sharp dropped 12.80 percent to 463 yen after the embattled electronics giant announced a record fiscal full-year loss on Tuesday, while Toyota rose 2.50 percent to 6,370 yen and Canon added 2.74 percent to 3,750 yen. The Sydney market fell 0.56 percent, or 29.3 points, to 5,191.7 after the government's austere budget, unveiled late Tuesday, which pushed back its plans to return to a surplus by four years. Seoul ended 0.12 percent higher, rising 2.43 points to 1,971.26 while Hong Kong climbed 0.63 percent and Shanghai rose 0.30 percent in afternoon trade. US stocks Tuesday surged to new all-time closing highs on renewed optimism after a prominent hedge fund manager said the stock rally of 2013 still had room to go higher. The Dow Jones Industrial Average rose 0.82 percent to a record 15,215.25. The broad-based S&P 500 also reached a new high, adding 1.01 percent to 1,650.36. Analysts said there was little fresh news to drive the gains, but pointed to bullish investor David Tepper, head of the Appaloosa Management hedge fund group, who told CNBC that the market could still go higher. Recent economic data from the United States has pointed towards a steady recovery in the world's largest economy. On Monday the US announced a slight improvement in consumer spending, with retail sales in April touching $419.0 billion, up from $418.7 billion the previous month, boosting the earnings outlook for Asian exporters. The April jobs report in early May was also stronger than expected. The US economy added 165,000 new positions and February and March job growth numbers were revised sharply upwards. Inflation data, which is due on Thursday, will be the next key US release. The dollar was at 102.59 yen in Asian trade compared with 102.21 yen in New York late Tuesday -- well above the mid-101 yen range a day earlier in Tokyo. The euro bought $1.2903 and 132.38 yen compared with $1.2935 and 132.29 yen in New York. Oil was up in Asian trade, with New York's main contract, light sweet crude for delivery in June gaining 11 cents to $94.32 a barrel and Brent North Sea crude for June delivery adding 10 cents to $102.70. Gold was at $1,413.85 at 0700 GMT compared with $1,428.40 on Tuesday. In other markets: -- Taipei rose 0.81 percent, or 66.77 points, to 8,318.59. HTC rose 0.53 percent to Tw$282.0 while TSMC was 0.43 percent lower at Tw$115.0. -- Wellington was flat, edging up 0.47 points to 4,646.33. Telecom Corp was down 2.06 percent at NZ$2.62 while Fletcher Building climbed 1.05 percent to NZ$8.70. -- Dow Jones Newswires contributed to this story --

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asia shares gain tokyo jumps as yen tumbles Arab Today, arab today asia shares gain tokyo jumps as yen tumbles

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 08:14 2017 Friday ,17 February

Bahrain Bourse daily trading report

GMT 21:28 2017 Thursday ,16 February

US Stocks End High on Tuesday

GMT 21:18 2017 Thursday ,16 February

Chinese Yuan Strengthens to 6.8632 Against USD Wednesday

GMT 09:55 2017 Thursday ,16 February

Robust Omani Riyal exchange rate affirmed

GMT 09:00 2017 Thursday ,16 February

Bahrain Bourse daily trading report

GMT 05:07 2017 Thursday ,16 February

Saudi stocks rise 0.6%

GMT 04:45 2017 Thursday ,16 February

Gold prices edge lower
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday