Hi, we've made some changes

Asia: Exporters, earnings spearhead Nikkei advance

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Tuesday 13 May 2008

LONDON (ShareCast) - The Nikkei rose on Tuesday, as investors scooped up a range of exporters like Canon and Sony, as the yen continued to soften against the dollar.

The Nikkei 225 closed up 210 points at 13,953.

Upbeat earnings forecasts from Fujitsu and truck maker Isuzu Motors boosted overall sentiment.

Shares in Fujitsu packed a punch, rising over 13%, following a broker upgrade and as investors cheered company predictions that its annual net profit would more than double this year.

Shares in Nikon rallied over 13% after it said annual profit surged on the back of increased sales of advanced cameras and chip-making equipment. It also announced plans for a share buyback.

Elsewhere in Japan Sankyo rallied after it predicted a healthy 13% rise in operating profit this financial year.

The Hang Seng advanced on Tuesday, tracking an upbeat close on Wall Street, with banking giant HSBC among the gainers.

The benchmark Hang Seng Index closed up 489 points at 25,552.

HSBC rose after it reported a solid rise in first quarter profit soothing concern about the ongoing impact of the credit crunch.

China Life, the nation’s largest insurer, declined following the massive earthquake in China’s Sichuan province.

Stocks based in the province such as Dongfang Electrical, Sichuan Expressway and Chongqing Iron & Steel Co have suspended trading.

Around 10,000 people are thought to have been killed by the earthquake in southwest China, according to official reports.

Digital Look have been voted
"Best Research and Information Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).