Nikkei Surges 2.7%, Industrial Production Rises 1%

Hiruki Nakamura
28 Feb, 2013
New York City

Stocks in Japan closed higher after global market worries eased. The yen held above 92 ahead of central bank chief appointment tomorrow. Industrial production increased 1% in January from December.

[R]5:00 PM Tokyo – Stocks in Japan closed higher after global market worries eased. The yen held above 92 ahead of central bank chief appointment tomorrow. Industrial production increased 1% in January from December.[/R]

Stocks in Tokyo surged after global markets worries eased.

Italy successfully placed its maximum target of debt and attracted more than expected investors and U.S. business spending was higher than expected in the latest period.

The Nikkei 225 Stock Average climbed 305.39 or 2.7% to 11,559.36 and the broader Topix Index jumped 21.94 or 2.3% to 975.66.

For the year so far the Nikkei has surged 11.2% and soared 35% since last November.

The yen rebounded against the dollar to 92.09

Trade Ministry said today, industrial production increased 1% in January from December.

Separately, Finance Ministry said foreign investors purchased 190.4 billion yen in stocks

Stocks in Review

GS Yuasa Corp increased 7.5% to 402 yen after Boeing said it plans to keep its lithium-ion battery.

Japan Tobacco jumped 23 yen to 2,925 yen.

Toyota Motor Corp climbed 160 yen to 4,765 yen and Honda Motor Co. advanced 125 yen to 3,455 yen and Nissan Motor Co Ltd increased 35 yen to 937 yen. Yamaha Motor Co Ltd jumped 33 yen to 1,108 yen.

Nippon Steel rose 5 yen to 251 yen and JFE Holdings Inc added 11 yen to 1,987 yen.

Sony climbed 46 yen to 1,338. Canon Inc soared 130 yen to 3,365 yen and Nikon rose 9 yen to 2,080 yen. TDK Corp increased 60 yen to 3,200 yen.

Nintendo Co. Ltd gained 80 yen to 8,990 yen. Dainippon Screen Manufacturing Co added 2 yen to 462 yen.

Fanuc Corp. advanced 440 yen to 14,310 yen and Komatsu Ltd climbed 83 yen to 2,338 yen. Hitachi Construction Machinery Co jumped 57 yen to 2,129 yen.

Softbank Corp increased 105 yen to 3,435 yen.

Fujikura Ltd fell 2 yen to 289 yen after the company announced a plan to repurchase as many as 2.9% of its outstanding shares.

FamilyMart Co Ltd, the convenience chain operator climbed 105 yen to 3,905 yen and Lawson advanced 160 yen to 6,890 yen. Ito En Ltd increased 20 yen to 1,877 yen.

Seven & I Holdings Co jumped 67 yen to 2,706 yen. Fast Retailing Co. soared 850 yen to 25,430 yen and J. Front Retailing Co. Ltd gained 19 yen to 548 yen.

Mitsubishi UFJ Financial Group up 8 yen to 513 yen and Sumitomo Mitsui Financial Group jumped 130 yen to 3,710 yen. Dai-Ichi Life rose 1.3% to 130,000 yen. Nomura Holdings, Inc gained 10 yen to 532 yen.