InfoAnda - Japan stocks post modest Christmas gains

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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 stocks post modest Christmas gains AP - Friday, December 26 TOKYO - Japanese stocks made a modest comeback Thursday after falling sharply the previous session, buoyed by bargain hunters and Wall Street's rise overnight. The benchmark Nikkei 225 stock average added 82.40 yen, or 0.97 percent, to 8,599.50 in light volume. Many major markets around the world are closed for Christmas. The broader Topix index rose 1.09 percent to 836.02. In a shortened session Wednesday on Wall Street, the Dow Jones industrial average rose 0.58 percent to 8,468.48 despite new U.S. reports on rising joblessness and declining consumer spending. Investors in Tokyo picked up recent decliners including automakers like Toyota Motor Corp., which warned earlier this week that it would fall into the red this fiscal year through March. Toyota advanced 2.34 percent to 2,845 yen in the issue's first rise in five sessions. Honda Motor Corp. closed up 2.95 percent at 1,850. But Toyota truck affiliate Hino Motors Ltd. retreated 1.71 percent to 172 yen after downgrading its fiscal year profit forecasts the previous day. "Although we expected a drop in revenues from production for Toyota ... overseas truck sales are deteriorating faster than we expected," said Goldman Sachs analysts Kota Yuzawa and Yukihiro Koike in a report. Marine transport issues climbed in line with tumbling crude oil prices, which fell for the ninth straight day in New York on Wednesday. Cargo shipper Mitsui O.S.K. Lines Ltd. jumped 5.39 percent to 547 yen, and Nippon Yusen K.K. rose 4.51 percent to 533 yen. In currencies, the dollar was trading at 90.34 yen from 90.48 yen late Wednesday. The euro stood at $1.4015 from $1.4004. 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 China buys aluminium to support producers-sourcesReuters - 22 minutes ago JFE steps up output cuts as demand dropsReuters - 35 minutes ago CNOOC may slow or delay projects on oil slump-sourceReuters - 1 hour 1 minute ago Indonesia Bakrie says settles debt in Bumi dealReuters - 1 hour 5 minutes ago Chinese stocks fall to seven-week lowAP - 1 hour 18 minutes ago Most Popular – Business Viewed US sees no holiday cheer; Russia, China warn of grim 2009 French investor takes life after massive losses in Madoff scandal Housing market feels more pain, bottom not yet in sight Quake zone hero pig named China's animal of the year Actress Jennifer Aniston appears naked in GQ magazine View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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