Showing posts with label Stock rise. Show all posts
Showing posts with label Stock rise. Show all posts
Saturday, May 21, 2011
Japan Stocks Rise, Led By Exporters,
Japanese stocks climbed in choppy early trade Friday, with tech shares benefitting from a slightly weaker yen, while energy and trading firms slipped on overnight weakness in crude-oil prices. The Nikkei Stock Average rose 0.5% to 9,669.23 after moving in both direction in the early going, while the Topix was up 0.2% at 833.40. With the dollar ticking higher against the Japanese yen, forex-sensitive tech exporters rose, with Hitachi Ltd. up 1.5%, Sony Corp. rising 0.5%, and Toshiba Corp. adding 1.4% after annoucing a deal to buy Swiss power-meter producer Landis+Gyr for $2.3 billion. Deal news also helped drug shares, with Takeda Pharmaceutical Co. rising 0.7%after saying it plans to buy another Swiss company, Nycomed, while rival Daiichi Sankyo Co. improved by 1.6%. But weakness in crude oil, sent Japan Petroleum Exploration Co. down 0.5%, and Mitsui & Co. lower by 1.6%.
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