Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Navigation
Primary Navigation
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular
Secondary Navigation
Singapore
Asia Pacific
World
Search
Search:
Japan shares rise despite plunge in factory output
By SHINO YUASA,Associated Press Writer AP - Friday, December 26
TOKYO - Japanese shares rose Friday despite a slew dismal economic data, including a record drop in the country's industrial output, as investors hunted for bargains in beaten-down auto and electronics stocks.
The benchmark Nikkei 225 stock average increased 140.02 yen, or 1.63 percent, to 8,739.52. The broader Topix index edged up 1.26 percent to 846.58. Trading volume was thin as foreign investors were absent from the market due to Christmas holidays.
"The Nikkei index rose modestly as investors bought back auto and electronics shares," which plummeted earlier on poor earnings projections amid a global recession, said Kazuki Miyazawa, market strategist at Daiwa Securities SMBC Co. Ltd.
"Investors hunted for bargains in those shares to adjust their positions before the year end," Miyazawa said.
Investors shrugged off the bad economic data, which included a rise in joblessness and lower household spending, as the results were within the market's forecast, he said.
Output at Japan's manufacturers in November tumbled 8.1 percent from October, the largest fall since the government began measuring such data in 1953.
"Industrial output is highly volatile, and given the current state of the global economy, investors were not surprised by the plunge in November," Miyzawa said.
The poor industrial output data in November underlined weakening demand at home and abroad, as Japan's top manufacturers like Toyota and Sony recently slashed production and jobs to cope with a deepening downturn.
Toyota Motor Corp., rose 1.9 percent to 2,900 yen while rival Honda Motor Co. added 1.8 percent to 1,884 yen. Nissan Motor Co., Japan's third-biggest car maker, gained 3 percent to 313 yen.
Sony Corp. was up 1.5 percent at 1,848 yen, while Panasonic Corp. added 1.7 percent to 1,94 yen.
Japan's top brokerage Nomura Holdings Inc. increased 1.8 percent to 731 yen.
In currencies, the dollar was trading at 90.41 yen from 90.43 yen in New York late Thursday. The euro stood at $1.4051 from $1.4014.
Email Story
IM Story
Printable View
Blog This
Recommend this article
Average (0 votes)
Sign in to recommend this article »
Most Recommended Stories »
Related Articles: Business
India bond yields up on inflation, securityReuters - 19 minutes ago
6 Chinese go on trial for selling melamineAP - 22 minutes ago
Russia's ruble drops to 3-year low against dollarAP - 26 minutes ago
India bought 28.95 bln rupees of bonds in wk Dec 19Reuters - 32 minutes ago
India's cbank loans to govt nil in week to Dec 19Reuters - 33 minutes ago
Most Popular – Business
Viewed
US sees no holiday cheer; Russia, China warn of grim 2009
Actress Jennifer Aniston appears naked in GQ magazine
Australian 'mummy smuggler' arrested in Cairo
Funeral of Guinea strongman as junta tightens grip
Weather outside frightful for US, Canada travelers
View Complete List »
Search:
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular