Tuesday, December 25, 2007

Japanese stocks jump on bargain hunting in banks, real estate

: Nipponese pillory jumped Tuesday in thin post-holiday trade on deal hunting in pillory seen as sensitive to domestic demand such as as Banks and existent estate.

The benchmark Nikkei 225 stock index rose 295.59 points, or 1.94 percent, to fold at 15,552.59 points on the Tokio Stock Exchange Tuesday. The index added 1.5 percent, to fold at 15,257.00 points Friday.

Trading was light, with abroad investors sidelined for the Christmastide holiday. Nipponese marketplaces were closed Monday for a national holiday.

Players anticipate flowings to be thin in the run-up to the New Year holidays, with the Nikkei likely to stay around 15,500 for the remainder of the week.

"We saw an early morning time encouragement from foreign orders before people went on vacation but otherwise it is quiet," said Trevor Hill, caput of client trading at UBS. Today in Business

Domestic-demand orientated pillory led the gains. Mitsubishi UFJ Financial Group rose 3.74 percentage to 1,080 hankering (US$9.47; €6.58), Sumitomo Mitsui Financial Group added 3.57 percentage to 869,000 (US$7,619; €5,292), while Daiwa House Industry Co. climbed 3.51 to 1,502 hankering (US$13.17; €9.15).

Electronics giant Hitachi added 3.85 percentage to 836 hankering (US$7.33; €5.09) after the company announced programs to sell down its interest in its loss-making liquid crystal show unit, raising hopes it will ship on a concern restructuring that could hike net income margins.

Matsushita Electric Industrial Co., which is purchasing portion of Hitachi's stake, rose 1.08 percentage to 2,325 hankering (US$20.38; €14.15), while Canon, which is also in on the deal, finished unchanged at 5,240 hankering (US$45.94; €31.91).

Japan's top mobile telephone bearer NTT DoCoMo rose 1.63 percentage to 187,000 hankering (US$1,639; €1,138), following studies the company programs to tie-up with Internet hunt giant Google to supply hunt and e-mail services on its handsets.

The broader Topix index, which includes all shares on the exchange's first section, added 26.83 points, or 0.18 percent, to 1496.03. Volume was light at 1.418 billion shares.

The dollar was trading at 114.06 hankering at 2:50 p.m. (0550 GMT) Tuesday, down from 114.32 hankering late Monday in New York. The Euro drop to US$1.4394 from $1.4405.

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