Search

Nikkei rises to 1-1/2-week high; suspected scandal caps earlier gains

Shutterstock photo

TOKYO, March 12 (Reuters) - Japan's Nikkei share averagerose to a 1-1/2-week high on Monday helped by tech shares, butearly gains were trimmed as a suspected cronyism scandaldampened sentiment.

The Nikkei .N225 ended 1.7 percent higher at 21,824.03points, the highest closing level since Feb. 28, but lower thanan intraday high of 21,971.16.

References to Japanese Prime Minister Shinzo Abe, his wifeand Finance Minister Taro Aso were removed from documentsrelated to a controversial land sale, according to the documentsseen by Reuters.

"If this news did not sour the mood, the Nikkei could havetried 22,000," said Yutaka Miura, a senior technical analyst atMizuho Securities.

The overall market was strong after February's U.S. jobsreport eased fears of inflation and aggressive interest ratehikes.

Chip-related technology stocks advanced following gains onFriday on the Nasdaq .IXIC , with Tokyo Electron8035.T up3.1 percent, Sumco3436.T advancing 2.5 percent and Shin-EtsuChemical 4063.T adding 2.3 percent.

Nikon Corp7731.T rose 1.5 percent and Canon Inc7751.T gained 2.0 percent.

Exporters were also supported after the dollar made largegains against the yen following Friday's U.S. employment report.

Panasonic Corp6752.T climbed 2.7 percent and Nissan MotorCo 7201.T rose 1.7 percent.

The broader Topix .TOPX rose 1.5 percent at 1,741.30. (Reporting by Shinichi Saoshiro and Ayai Tomisawa; Editing byKim Coghill) ((ayai.tomisawa@thomsonreuters.com; 81-3-6441-1875; ReutersMessaging: ayai.tomisawa.thomsonreuters.com@reuters.net))



Let's block ads!(Why?)

Read Again Nikkei rises to 1-1/2-week high; suspected scandal caps earlier gains : http://ift.tt/2FApJbT

Let's block ads! (Why?)



Bagikan Berita Ini

0 Response to "Nikkei rises to 1-1/2-week high; suspected scandal caps earlier gains"

Post a Comment

Powered by Blogger.