Japanese stocks rose for a third day as a weaker yen boosted the outlook for exporters as overseas shipments increase. Brokerages and energy shares led gains.
Camera maker Nikon Corp., which gets 84 percent of sales abroad, advanced 3.4 percent. Nomura Holdings Inc. jumped more than 4 percent for a second day, leading brokerages higher. Sony Corp. rose 2.4 percent after revising its profit forecast higher on better sales of videogames. JSR Corp. slumped 5.8 percent after the rubber products-maker forecast smaller-than-expected operating profit.
The Topix index climbed 0.3 percent to 1,626.78 as of 9:26 a.m. in Tokyo, with all but nine of its 33 industry groups rising. The Nikkei 225 Stock Average added 0.2 percent to 20,175.48, after closing above 20,000 Wednesday for the first time in 15 years. The yen traded at 119.97 per dollar after a three-day drop of 0.9 percent.
Recommended Content
Editors’ Picks
EUR/USD climbs to 10-day highs above 1.0700
EUR/USD gained traction and rose to its highest level in over a week above 1.0700 in the American session on Tuesday. The renewed US Dollar weakness following the disappointing PMI data helps the pair stretch higher.
GBP/USD extends recovery beyond 1.2400 on broad USD weakness
GBP/USD gathered bullish momentum and extended its daily rebound toward 1.2450 in the second half of the day. The US Dollar came under heavy selling pressure after weaker-than-forecast PMI data and fueled the pair's rally.
Gold rebounds to $2,320 as US yields turn south
Gold reversed its direction and rose to the $2,320 area, erasing a large portion of its daily losses in the process. The benchmark 10-year US Treasury bond yield stays in the red below 4.6% following the weak US PMI data and supports XAU/USD.
Here’s why Ondo price hit new ATH amid bearish market outlook Premium
Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.
Germany’s economic come back
Germany is the sick man of Europe no more. Thanks to its service sector, it now appears that it will exit recession, and the economic future could be bright. The PMI data for April surprised on the upside for Germany, led by the service sector.