ID :
201534
Tue, 08/16/2011 - 07:54
Auther :
Shortlink :
http://m.oananews.org//node/201534
The shortlink copeid
Tokyo Stocks Advance in Morning
Tokyo, Aug. 16 (Jiji Press)--Stocks rose further on the Tokyo Stock Exchange Tuesday morning, supported by U.S. shares' robust gains overnight.
At the morning close, the 225-issue Nikkei average was up 29.92 points, or 0.33 pct, at 9,116.33. On Monday, the key market gauge surged 122.69 points.
The TOPIX index of all first-section issues was up 3.64 points, or 0.47 pct, at 780.76, after gaining 8.93 points the previous day.
Stocks opened higher on the heels of Wall Street's sharp rise on expectations that mergers and acquisitions may increase after U.S. Internet search giant Google Inc. said Monday it would acquire mobile phone manufacturer Motorola Mobility Holdings Inc.
Nonetheless, the yen remaining strong below 77 to the dollar weighed down investor sentiment, brokers said.
The Dow Jones industrial average rose for the third trading day, the first such rising streak in some one and a half months.
Thanks to the Dow's continued advance, "a sense of reassurance spread in the market that plunges in the U.S. market have come to a halt for the meantime," said Hiroichi Nishi, equity general manager at SMBC Nikko Securities Inc.
"The Tokyo market has started to show signs of bottoming out," Nishi said.
Market participants also took heart from brisk performances of European stock markets, brokers said.
However, investors still find it difficult to step up purchases as they hope to see the future courses of the U.S. economy and European fiscal problems, Nishi said.
Rising issues far exceeded falling ones 1,039 to 415 on the TSE's first section in the morning, while 210 issue were unchanged.
Half-day volume came to 789 million shares.
Nitto Denko, which manufactures mobile phone parts, jumped 2.55 pct after Google's announcement.
Marubeni shot up 2.08 pct after a news report that the major Japanese trader is slated to produce mixed feed in China jointly with Chinese companies, market sources said.
Realtors Mitsubishi Estate and Mitsui Fudosan enjoyed handsome gains, as did tire makers Bridgestone, Sumitomo Rubber and Yokohama Rubber.
By contrast, defensive issues such as drug makers Astellas, Eisai and Daiichi Sankyo and utilities Electric Power Development, known as J-Power, Chugoku Electric and Tokyo Electric came under selling pressure.
At the morning close, the 225-issue Nikkei average was up 29.92 points, or 0.33 pct, at 9,116.33. On Monday, the key market gauge surged 122.69 points.
The TOPIX index of all first-section issues was up 3.64 points, or 0.47 pct, at 780.76, after gaining 8.93 points the previous day.
Stocks opened higher on the heels of Wall Street's sharp rise on expectations that mergers and acquisitions may increase after U.S. Internet search giant Google Inc. said Monday it would acquire mobile phone manufacturer Motorola Mobility Holdings Inc.
Nonetheless, the yen remaining strong below 77 to the dollar weighed down investor sentiment, brokers said.
The Dow Jones industrial average rose for the third trading day, the first such rising streak in some one and a half months.
Thanks to the Dow's continued advance, "a sense of reassurance spread in the market that plunges in the U.S. market have come to a halt for the meantime," said Hiroichi Nishi, equity general manager at SMBC Nikko Securities Inc.
"The Tokyo market has started to show signs of bottoming out," Nishi said.
Market participants also took heart from brisk performances of European stock markets, brokers said.
However, investors still find it difficult to step up purchases as they hope to see the future courses of the U.S. economy and European fiscal problems, Nishi said.
Rising issues far exceeded falling ones 1,039 to 415 on the TSE's first section in the morning, while 210 issue were unchanged.
Half-day volume came to 789 million shares.
Nitto Denko, which manufactures mobile phone parts, jumped 2.55 pct after Google's announcement.
Marubeni shot up 2.08 pct after a news report that the major Japanese trader is slated to produce mixed feed in China jointly with Chinese companies, market sources said.
Realtors Mitsubishi Estate and Mitsui Fudosan enjoyed handsome gains, as did tire makers Bridgestone, Sumitomo Rubber and Yokohama Rubber.
By contrast, defensive issues such as drug makers Astellas, Eisai and Daiichi Sankyo and utilities Electric Power Development, known as J-Power, Chugoku Electric and Tokyo Electric came under selling pressure.
