Quantcast
Latest Stories

Tokyo stocks leap 3 percent in early trade



TOKYO–Tokyo stocks jumped more than three percent on Friday, the first day of 2013 trading, following global rallies on a US deal to avert a “fiscal cliff” of tax hikes and huge spending cuts.

The Nikkei 225 index at the Tokyo Stock Exchange, which ended 2012 at the highest level since the March 2011 quake and tsunami disaster, was up 3.02 percent, or 313.80 points, at 10,708.98 after the first few minutes of trading.

The benchmark index opened up 2.01 percent and quickly expanded the gains.

“Japan’s markets are opening relatively late after the US government acted, and thus they stand to benefit from the news as well as the enthusiastic response from other bourses,” said SMBC Nikko Securities general manager of equities Hiroichi Nishi.

Nishi also noted the yen’s drop against the dollar and euro, which is positive for Japanese exporters.

But he told Dow Jones Newswires that profit-taking by traders was likely to temper share prices.

Tokyo markets had been closed from the end of 2012 until Thursday for holidays.

The US House of Representatives late Tuesday passed a deal between the White House and Republicans to raise taxes on the rich and put off automatic $109 billion budget cuts for two months, lifting the clouds of immediate crisis.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Economic indicators , Fiscal cliff , Japan , Nikkei Index , Stock Activity , Stock Market , Tokyo Stock Exchange



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Napoles tags over 100 officials in pork scam – Lacson
  • Vitangcol to sue Czech envoy
  • Senator’s kickback from pork bigger than those of Enrile, Estrada, Revilla – Lacson
  • 43 out of 414 Etihad passengers yet to be found, tested for MERS-CoV – Palace
  • Sandigan junks Marcos family claim to Paoay property
  • Sports

  • Caguioa blasts ‘no heart, soft’ Ginebra on Twitter
  • San Mig Coffee grinds out win over Alaska to force decider
  • UP nips St. Benilde; Adamson blasts RTU in Filoil women’s caging
  • Kevin Garnett responds to Raptors’ GM F word
  • Albert Pujols hits 500th HR of major league career
  • Lifestyle

  • Entering the monkhood a rite of passage
  • Haneda International Airport: A destination on its own
  • Wanted: Beauty queen with a heart that beats for the environment
  • Kim Atienza: At home with art and design
  • Life lessons I want to teach my son
  • Entertainment

  • Bollywood Oscars, film stars come to Florida
  • Ex-Fox exec denies allegations in sex abuse suit
  • Kris Aquino backtracks, says Herbert Bautista and her are ‘best friends’
  • Summer preview: Chris Pratt enters a new ‘Galaxy’
  • Bon Jovi helps open low-income housing in US
  • Business

  • SM to rebuild Tacloban hospital
  • PSEi slips after 4-day rally
  • Toyota sells 2.58 million vehicles, outselling GM
  • McDonald’s 1Q profit slips as US sales decline
  • SEC approves SM’s P15B retail bond offer
  • Technology

  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Engineers create a world of difference
  • Bam Aquino becomes Master Splinter’s son after Wiki hack
  • Mark Caguioa lambasts Ginebra teammates on Twitter
  • Opinion

  • One-dimensional diplomacy: A cost-benefit analysis of Manila’s security deal with Washington
  • No ordinary illness
  • Reforest mountains with fire trees and their kind
  • Day of the Earth
  • When will Chinese firm deliver new coaches?
  • Global Nation

  • 19 Ukrainians, Russians, Filipinas rescued in bar raid
  • Filipinos coming home from Mideast must obtain MERS clearance – DOH
  • US Secret Service in Manila ahead of Obama visit
  • Palace thanks Estrada for successful HK mission
  • Hong Kong accepts PH apology; sanctions also lifted
  • Marketplace