Nikkei Rises To 15-Year High On Gains In Financials

World Japanese stocks rose to a 15-year high on Thursday morning, helped by gains in financial and shipping companies, and as shares of Sony Corp jumped on a well-received business plan.The Nikkei share average gained 0.5 per cent to 18,283.73 at the mid-day break after earlier rising to 18,322.50, its highest level since May 2000.At mid-day, the value of trade on the Topix stood at 1.2 trillion yen, suggesting that daily value is heading for 3 trillion yen.Market players said that a combination of factors have helped to underpin demand for Japanese stocks among foreign investors. These include news state-owned Japan Post Holdings' ditching of its conservative approach to investments with its US $5.1 billion takeover of Australia's Toll Holdings, and the Nikkei breaking new ground on its dollar-based value."US long-only (investors), who look at things on a dollar basis, say that the Nikkei is finally going into new ground,"
Nikkei Rises To 15-Year High On Gains In Financials Nikkei Rises To 15-Year High On Gains In Financials Reviewed by Money99 on 10:24:00 Rating: 5

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