Japanese stocks climb as its benchmark index goes into its seventh day of gains on the easing tension between Ukraine and Russia with the national currency, the yen, weakening.
The Topix Index added 0.8% to 1,280.75, 9:12am, Tokyo time. The gauge is now approaching its highest close last seen on August 1 to make today’s rise a total of seven day winning streak. 32 of the index’s 33 industry groups are green. The Nikkei 225 Stock Average jumped by 0.9% to 15,460.56 with the yen slipping 0.1% to match the dollar at 102.63 yen falling further from yesterday’s 0.2% loss.
Daikin Industries Ltd., gained 3.3 after the air-conditioner maker had its rating raised by the Credit Suisse Group. Meanwhile, the Kansai Electric Power Co. advanced by 2.6% after reporting that the company will be submitting application towards a power-rate increase to be conducted as early as autumn. Healthcare dragged a bit with Chugai Pharmaceutical Co. shedding 3% following a 15% surge in the previous trading day with its parent company Roche Holding is speculated to purchase out the Japanese drugmaker.
Chief strategist at SMBC Friend Securities Co., Toshihiko Matsuno commented to Bloomberg that the geopolitical situation in Ukraine and Russia is slowly easing up with the US economic data released being fairly good as well. Matsuno adds that it is vital the the negotiations continue until the crisis is resolved.
Ukraine and Russia recently following a convoy attack on the Ukraine border. Ukraine, represented by Foreign Minister Pavlo Klimkin and for Russia, Foreign Minister Sergei Lavrov, met in Berlin to discuss a possible solution to ease tension between their respective countries. German Foreign Minister, Frank-Walter Steinmeier confirmed that the meeting yielded some progress.
The material has been provided by InstaForex Company – www.instaforex.com
Japanese stocks climb as its benchmark index goes into its seventh day of gains on the easing tension between Ukraine and Russia with the national currency, the yen, weakening.
The Topix Index added 0.8% to 1,280.75, 9:12am, Tokyo time. The gauge is now approaching its highest close last seen on August 1 to make today’s rise a total of seven day winning streak. 32 of the index’s 33 industry groups are green. The Nikkei 225 Stock Average jumped by 0.9% to 15,460.56 with the yen slipping 0.1% to match the dollar at 102.63 yen falling further from yesterday’s 0.2% loss.
Daikin Industries Ltd., gained 3.3 after the air-conditioner maker had its rating raised by the Credit Suisse Group. Meanwhile, the Kansai Electric Power Co. advanced by 2.6% after reporting that the company will be submitting application towards a power-rate increase to be conducted as early as autumn. Healthcare dragged a bit with Chugai Pharmaceutical Co. shedding 3% following a 15% surge in the previous trading day with its parent company Roche Holding is speculated to purchase out the Japanese drugmaker.
Chief strategist at SMBC Friend Securities Co., Toshihiko Matsuno commented to Bloomberg that the geopolitical situation in Ukraine and Russia is slowly easing up with the US economic data released being fairly good as well. Matsuno adds that it is vital the the negotiations continue until the crisis is resolved.
Ukraine and Russia recently following a convoy attack on the Ukraine border. Ukraine, represented by Foreign Minister Pavlo Klimkin and for Russia, Foreign Minister Sergei Lavrov, met in Berlin to discuss a possible solution to ease tension between their respective countries. German Foreign Minister, Frank-Walter Steinmeier confirmed that the meeting yielded some progress.
The material has been provided by InstaForex Company – www.instaforex.com
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