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Stocks Morning UPDATE1(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, May 15 -- (Kyodo) _ (EDS: ADDING DETAILS, PRICES) The Nikkei index gained more than 2 percent to move above the 15,000 mark Wednesday morning for the first time since January 2008 as investors' risk-appetite was fueled by a falling yen and bullish global equity market. The 225-issue Nikkei Stock Average ended the morning session up 338.55 points, or 2.29 percent, from Tuesday to 15,096.97, the highest intraday mark since Jan. 4, 2008. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 26.38 points, or 2.14 percent, to 1,257.18. Gainers were led by insurance, electric machinery firms and automakers while decliners included real estate, consumer finance and construction issues. Export-oriented firms including Toyota Motor Corp. and Sony Corp. enjoyed strong gains as the dollar climbed to above the 102 yen line, up from the lower 101 yen range seen the previous day in Tokyo, boosting hopes for improved business performances, brokers said. "There are signs of a brighter outlook for the global economy, while the dollar and euro are gaining ground against the yen due to overseas factors," said Hiroichi Nishi, assistant general manager of equity research at SMBC Nikko Securities Inc. He said sentiment had been lifted by advances in overseas bourses after debt rating agency Fitch Ratings upgraded Greece's long-term credit rating and U.S. small-business optimism index for April exceeded market expectations. Investors were heartened after the Dow Jones Industrial Average and Germany's Dax stock index hit record highs overnight. Among export-linked issues, Toyota Motor rose 160 yen, or 2.6 percent, to 6,370 yen and Sony soared 217 yen, or 11.6 percent, to 2,094 yen. Panasonic advanced 47 yen or 5.5 percent, to 899 yen while Kyocera was up 420 yen, or 4.1 percent, to 10,610 yen. Isuzu Motors surged 150 yen, or 20.8 percent, to 872 yen in response to a rise to a record high in the company's group net profit for fiscal 2012, released Tuesday. The banking sector fared well with Mitsubishi UFJ Financial Group climbing 29 yen, or 4.1 percent, to 739 yen in reaction to news reports that it is likely to raise its dividend for fiscal 2012 for the first time in five years. Bucking the upward trend, struggling electronics maker Sharp tumbled 38 yen, or 7.2 percent, to 493 yen as investors were discouraged by a record group net loss the company posted for fiscal 2012. Real estate shares, sensitive to interest rates, were the biggest loser in the morning amid a recent sharp rise in long-term bond yields. Mitsui Fudosan sagged 115 yen, or 3.5 percent, to 3,185 yen. Mitsubishi Estate was down 40 yen, or 1.4 percent, at 2,830 yen. On the First Section, advancing issues outnumbered declining ones 877 to 741, while 91 remained unchanged. (c) 2013 Kyodo News International, Inc. |