Arab Today, arab today asia stocks rise tokyo boosted by weak yen
Last Updated : GMT 15:23:06
Arab Today, arab today
Arab Today, arab today

Asia stocks rise, Tokyo boosted by weak yen

Arab Today, arab today

Arab Today, arab today Asia stocks rise, Tokyo boosted by weak yen

Japanese stocks advanced on May 10, 2016, with exporters lifted by a weakening yen
Tokyo - AFP

Tokyo led Asian markets higher Tuesday as exporters were lifted by a weakening yen, while tighter Chinese inflation data also provided some cheer.

However, gains were tempered by losses in energy firms after a slump in crude prices as the wildfires sweeping Canada's oil-sands region abated.

Japanese stocks advanced for a second day as the dollar made up more ground against the yen after Friday's US jobs report provided hope for the economy but was weak enough to suggest any Federal Reserve interest rate hike would be gradual.

Japanese officials continued to try to talk down the currency, with finance minister Taro Aso repeating warnings about possible intervention.

The Nikkei index closed 2.2 percent higher while the dollar climbed to 108.93 yen, up from 108.34 yen in New York and sharply higher than the 105.50 yen troughs touched last Tuesday.

Toshihiko Matsuno, chief strategist at SMBC Friend Securities, told Bloomberg News: "We're more likely to see a weakening yen this week. The Japanese currency has fallen to within the levels assumed for it by exporters, so investors will be able to buy the shares again."

Shanghai reversed early losses to end marginally higher after inflation came in above two percent again last month while the fall in prices paid at factory gates also eased.

The figures provided some small hope for the world's number two economy after weekend data showed another fall in exports and imports.

"We are witnessing a reversal of the deflation process," Larry Hu, head of China economics at Macquarie Securities in Hong Kong, wrote in a recent note. "While deflation is very painful, the reversal of it could also lead to higher nominal growth and inventory restocking."

- Manila swings -

Among other markets, Sydney ended up 0.4 percent and Seoul added 0.8 percent. Hong Kong climbed 0.4 percent.

Manila's stock market ended 2.6 percent higher after a volatile day as anti-establishment politician Rodrigo Duterte claimed victory as the new president of the Philippines.

The 71-year-old stormed to victory with a landslide in Monday's election after an incendiary campaign dominated by his profanity-laced vows to kill criminals.

Philippine shares had fallen more than five percent over the past six weeks as Duterte looked set for victory, with traders concerned about his economic plans. But despite uncertainty over policies, the peso rose 0.7 percent against the dollar.

"There will be a honeymoon period moving forward as investors give Duterte the benefit of the doubt," Smith Chua, chief investment officer for the asset management and trust arm of Bank of the Philippine Islands in Manila, said.

Hopes that European leaders will agree to a deal to release fresh bailout cash to Greece also provided some cheer after Greece's parliament voted for more pension cuts and tax hikes.

Oil prices bounced back in the afternoon, having plunged Monday as the biggest threat to Canada's reserves seemed to be over with rain and cooler temperatures slowing fires that have raged for more than a week.

The Brent crude contract rose 0.9 percent in Asia having lost almost four percent Monday while West Texas Intermediate gained 0.4 percent the day after a 2.7 percent loss.

In early European trade London gained 0.6 percent, Frankfurt added 0.8 percent and Paris was up 0.4 percent.

- Key figures around 0800 GMT -

Tokyo: Nikkei 225: UP 2.2 percent at 16,565.19 (close)

Shanghai: UP 1.07 points at 2,832.59 (close)

Hong Kong: UP 0.4 percent at 20,242.68 (close)

London - FTSE 100: UP 0.6 percent at 6,151.27

Euro/dollar: UP at $1.1392 from $1.1381 Monday

Dollar/yen: UP at 108.93 yen from 108.34 yen

New York - Dow: DOWN 0.2 percent at 17,705.91 (close)

Source :AFP

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 stocks rise tokyo boosted by weak yen Arab Today, arab today asia stocks rise tokyo boosted by weak yen

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 14:28 2017 Saturday ,25 February

Gold hits 3.5-month high

GMT 03:11 2017 Saturday ,25 February

50 Tunisian exhibitors at Gulfood 2017, Dubai

GMT 02:19 2017 Saturday ,25 February

SIEL expo, March 1-4

GMT 12:30 2017 Friday ,24 February

Norway's Telenor to leave Indian telecom market

GMT 10:17 2017 Friday ,24 February

Dow stands out as global stocks tread water

GMT 16:11 2017 Thursday ,23 February

Bahrain Bourse daily trading report
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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