Japanese stocks exploded higher on Friday, with the Nikkei adding more than 4% in a matter of minutes, as the aggressive easing previous day's movements that the Bank of Japan kept the yen sharp drop overnight.
The Nikkei Average JP:NIK
+3.18% rallied
4.1% to 13,159.40 after a 2.2% advance Thursday, while the Topix traded up
4.3%.
With the dollar by adding a total of two yen for its kind since the previous close of Tokyo, exporters show strong gains, while the main property shares remained offer only after the central bank said it would buy more-Real Estate Investment Trust values Among the exporter names.
Sony Corp. JP:6758
+2.23% SNE +3.47% rose 4.5%, Olympus Corp. JP:7733
+2.06% OCPNF -0.55% surged 6%, Hitachi Ltd. JP:6501
+5.84% HTHIF -1.56% added 5.1%, and Toshiba Corp.
JP:6502
+4.05% TOSYY +3.92% traded 4.9% higher, with the
greenback buying ¥96.53. Likewise, the auto sector zoomed higher, with Toyota
Motor Corp.
JP:7203
+3.35% TM +4.71% up 3.4%, Nissan Motor Co. JP:7201
+7.35% NSANY +5.47% jumping 7.2%, and Honda Motor Co.
JP:7267
+2.88% HMC +5.40% adding 3% despite a Kyodo News report
that it was recalling more than 145,000 vehicles in Japan.
Among real-estate
shares, Mitsui Fudosan Co. JP:8801
+9.22% MTSFF +5.20% , Mitsubishi Estate Co. JP:8802
+6.11% MITEF +2.04% and Sumitomo Realty & Development
Co.
JP:8830
+6.60% SURDF +12.61% had yet to open 15 minutes into
trading, though Sekisui House Ltd. JP:1928
+4.66% showed
a 5.7% pop.
.jpg)
.jpg)
