Nikkei Rebounds to Surpass March 11 Close Last Year

Nigel Thomas
27 Mar, 2012
New York City

The Nikkei index in Tokyo rebounds to cross the level last seen on March 11 a year ago when triple disaster crippled the nation and left 19,000 missing or dead. The index jumped on the last day to capture dividend from most companies.

[R]8:30 PM Tokyo – The Nikkei index in Tokyo rebounds to cross the level last seen on March 11 a year ago when triple disaster crippled the nation and left 19,000 missing or dead. The index jumped on the last day to capture dividend from most companies.[/R]

The benchmark indexes in Tokyo opened higher and surged in heavy trading following the gains in New York markets. The Nikkei jumped in the last few seconds ahead of close on March 11, 2011.

The index regained to the level last seen nearly a year ago when earthquake and tsunami triggered a nuclear disaster in three decades and 19,000 people are dead and missing.

The accommodative comments from the Fed Chairman Ben Bernanke soothed markets around the world and raised the prospects of additional economic stimulus to sustain recent gains in employment.

The Nikkei 225 Stock Average soared 236.91 to close at 10,255.15 and the broader Topix index increased 20.60 to 872.42.

The dollar rose to 82.95 yen and traded at a new 2-week high and the euro gained to 109.32 yen from its close on Friday at 108.48.

Stock Movers

Commodities linked stocks were higher after copper and crude oil prices rose in London and New York trading on Friday. Mitsubishi Materials Corp added 2.5% to 280 yen and Inpex Corp gained 1.9% to 582,000 yen.

Toyota Motor closed up 125 yen to 3,600 yen and Honda Motor Co. increased 110 yen to 3,270 yen and Nissan Motor Co Ltd increased 18 yen to 894 yen.

Yokohama Rubber Co. closed up 21 yen to 613 yen and Bridgestone Corp gained 33 yen to 2,025 yen.

Sony Corp increased 52 yen to 1,742 yen, Panasonic Corp closed up 20 yen at 773 yen and Canon Inc closed up 135 yen to 4,015 yen. Nintendo Co. Ltd increased 170 yen to 12,740 yen.

Olympus Corp rose 4 yen to 1,304 yen, Nikon gained 85 yen to 2,521 yen and Fanuc Ltd closed up 490 yen to 15,510 yen. Hitachi Ltd increased 2.3% to 529 yen.

Komatsu Ltd increased 22 yen to 2,414 yen, Hitachi Construction Machinery Co increased 63 yen to 1,885 yen and Toyo Engineering Corp closed up 6 yen at 394 yen.

Mitsui O.S.K. Lines, Ltd increased 12 yen to 369 yen, Kawasaki Kisen Kaisha, Ltd closed up 2 yen to 176 yen and Nippon Yusen K.K. rose 9 yen to 265 yen.

Fast Retailing Co. soared 410 yen to 18,460 yen and J. Front Retailing Co. Ltd closed up 12 yen to 451 yen.

Mitsubishi UFJ Financial Group increased 18 yen to 442 yen and Sumitomo Mitsui Financial Group soared 69 yen to 2,878 yen. Nomura Holdings, Inc increased 15 yen to 381 yen.

Tokyo Tatemono Co., Ltd increased 18 yen to 339 yen and Mitsui Fudosan gained 56 yen to 1,605 yen and Sumitomo Realty & Development Co. soared 92 yen to 2,025 yen.

Nippon Steel increased 6 yen to 234 yen and JFE Holdings Inc increased 3% or 54 yen to 1,846 yen.