Arab Today, arab today nikkei 225 index surged almost 23 in 2012
Last Updated : GMT 21:26:48
Arab Today, arab today
Arab Today, arab today

Nikkei 225 index surged almost 23% in 2012

Arab Today, arab today

Arab Today, arab today Nikkei 225 index surged almost 23% in 2012

Tokyo - AFP

Tokyo shares on Friday closed at their highest point since last year\'s quake-tsunami, ending 2012 up almost 23 percent on-year as Japan\'s new government pledges to turn around the long-suffering economy. The Nikkei ended the last trading day of the year up 0.70 percent, or 72.20 points, closing at 10,395.18, its best finish since the March 11 disaster. And the 22.9 percent rise over the past 12 months was the strongest annual return for the Nikkei since 2005, although the closely-followed index remains a shadow of its former self. The Nikkei peaked at almost 39,000 in the last days of 1989 before Japan\'s asset bubble popped, dealing a huge blow to the economy and sending the index plunging over the next two decades. It lost about 17 percent last year when Japan was hammered by the twin natural disasters and subsequent nuclear crisis at Fukushima, the worst atomic accident in a generation. Overseas investors have been piling into the Tokyo market on the back of hopes that the new conservative government headed by Prime Minister Shinzo Abe will make good on promises to revive Japan\'s limp economy. Investors have bid up Japanese stocks because the market was undervalued, said Seiichi Suzuki, a strategist at Tokai Tokyo Securities. \"This momentum will continue next year,\" Suzuki said. \"It\'s not only because of the \'Abe effect\'. Foreign investors will buy more Japanese shares, and that will force Japanese investors to buy more too.\" On Friday, Tokyo\'s broader Topix index of all first-section shares climbed 0.67 percent, or 5.71 points, to 859.80, to finish the year up 18 percent.Tokyo\'s rise was particularly stark in the last few months as the yen, which hit record highs of around 75 against the dollar in late 2011, began a descent stoked partly by speculation of further easing by the Bank of Japan. Abe, whose Liberal Democratic Party won landslide national elections this month, said he would spend big and pressure the central bank into more aggressive easing measures to boost the world\'s third-largest economy. On currency markets Friday, the dollar fetched 86.07 yen after spiking at 86.63 yen -- its highest level since August 2010 -- while the euro earlier touched a 17-month high against the Japanese currency. The yen had been viewed as a safe bet at times of global economic uncertainty, with turmoil in Europe and an unsteady US recovery. But a dose of cautious eurozone optimism and encouraging US data has helped send some traders back to riskier currencies, weighing on the yen and in turn boosting exporters\' shares. Producers, already battling fierce overseas competition and a global slowdown, suffered as the strong currency made their products pricier overseas while shrinking the value of repatriated income. It did, however, make foreign acquisitions relatively cheaper with Japanese firms going on a big shopping spree this year, scooping up about $110 billion worth of overseas assets, according to data provider Dealogic. Markets on Friday largely shrugged off figures showing Japan\'s November factory output fell by a worse-than-expected 1.7 percent from the previous month. Japan\'s top automaker Toyota hit a year high of 4,005 yen per share, up about 56 percent in 2012, while rival Nissan stock rose 17 percent to 811 yen. Honda shares jumped 34 percent to 3,145 yen in the past 12 months. Fast Retailing, operator of cheap chic fashion chain Uniqlo, hit the year\'s highest price of 21,840 yen a share, while factory automation giant Fanuc also notched up a year-high of 15,920 yen, up 35 percent. It was still a tough year for Japan\'s consumer electronics giants, mired in losses and credit rating downgrades, with Sony\'s shares losing 30 percent to 958 yen, while rival Panasonic was down 20 percent over the year to 522 yen. Osaka-based Sharp, whose survival was thrown into doubt on the back of massive losses, saw its shares plunge about 55 percent this year to 303 yen.

arabstoday
arabstoday

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 nikkei 225 index surged almost 23 in 2012 Arab Today, arab today nikkei 225 index surged almost 23 in 2012

 



Arab Today, arab today

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 nikkei 225 index surged almost 23 in 2012 Arab Today, arab today nikkei 225 index surged almost 23 in 2012

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
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