Monday, November 19, 2012

Japan Stocks Extend Rally As Yen Falls Further

By Michael Kitchen

Published November 18, 2012

MarketWatch Pulse

Japan stocks enjoyed another day of explosive opening gains Monday, with the benchmark Nikkei Stock Average climbing 1.6% to 9,169.58 in the early minutes, and the Topix gaining 1.7%, after the yen struck a seven-month low against the U.S. dollar. Major exporters were among the top gainers, as the dollar rose to the mid-?81 range, and the euro closed in on the ?104 mark amid hopes a possible change of Japanese government will push greater monetary easing. Toshiba Corp. jumped 3.9%, Hitachi Ltd. added 3%, Komatsu Ltd. rose 3.8%, Canon Inc. gained 4%, and Toyota Motor Corp. advanced 2.6%. Shares of Nintendo Co. rose 2.3% as the firm launched the Wii U in the U.S., its first home videogame console in six years. Honda Motor Co. rose 1.7% after a Nikkei business news report Saturday that the firm had raised its Japan sales target by 16% for the fiscal year ending in March.

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Source: http://feeds.foxbusiness.com/~r/foxbusiness/technology/~3/uCyZTO9LdeI/

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