PT Rifan Financindo Berjangka - Japanese stocks advanced, with the Nikkei 225 Stock Average gaining more than 3%, as a pause in the yen's strengthening gave a boost to exporters such as technology companies and automakers.
The blue-chip gauge rose as much as 3.3% as of 9:18 a.m. in Tokyo, while the broader Topix gained 2.8%. Hitachi Ltd. contributed the most to the Topix's gain, increasing 5.4%, as the yen dropped 0.4% to trade at 142.88 per dollar. Banks including Mitsubishi UFJ Financial Group Inc. also advanced after long-term Treasury yields rose for a second day.
"Semiconductor-related stocks, information and telecommunications stocks, and automobile stocks, which had been sold off due to the strong yen, are expected to be firm," said Takashi Ito, a senior strategist at Nomura Securities Co., "The US CPI has strengthened speculation of a 25 basis-point rate cut, which has temporarily removed the pressure from the strong yen."
The US consumer price index increased 0.3% from July, the most in four months, and 3.2% from a year ago, figures showed Wednesday.
Investors are watching comments from central bank officials that could sway the outlook for shares. Bank of Japan policy board member Naoki Tamura is due to speak Thursday. On Wednesday, another board member Junko Nakagawa said the central bank will continue to adjust policy provided the economy performs in line with projections in comments that sent the yen higher.
Out of 2,132 stocks in the Topix, 2,046 rose and 32 fell, while 54 were unchanged. PT Rifan Financindo Berjangka.
Source : Bloomberg
No comments:
Post a Comment