Tokyo investors eye : Chase Franklin International Tokyo News
Tokyo investors eye US data next week Tokyo investors will keep a close eye on US economic data next week as analysts warn that the Japanese market's surge to a six-month high may be short-lived.
Tokyo investors eye US data next week
Tokyo investors will keep a close eye on US economic data next week as analysts warn that the Japanese market's surge to a six-month high may be short-lived.
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SMBC Nikko Securities general manager of equities Hiroichi Nishi added: 'It wouldn't be a total<br />
misnomer to call the current rally a 'Yellen Rally'.'<br />
In currency trading, the US dollar topped Y100 for the first time since mid-September, changing hands at<br />
Y100.12 in late <strong>Tokyo</strong> trade, against Y100.00 in New York on Thursday.<br />
In share trading, major exporters were higher with Sony up 3.35 per cent at Y1,846 and Canon rising<br />
1.89 per cent at Y3,230.<br />
Sony was also lifted by upbeat expectations for its new PlayStation 4 games console, which will go on<br />
sale in North America on Friday.<br />
Financial stocks also rose after reporting robust earnings on Thursday.<br />
Mitsubishi UFJ Financial Group, Japan's biggest bank, rose 2.01 per cent to Y658 while rival Mizuho<br />
gained 1.86 per cent to Y218.<br />
<strong>Tokyo</strong> Electric Power climbed 1.45 per cent to Y556 after media reports that the operator of the crippled<br />
Fukushima nuclear power plant would get billions of dollars in fresh bank loans to help fund<br />
decommissioning the site and compensating victims.
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