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Stocks open higher after Wall St. gains, machinery order data.

TOKYO, Oct. 13 Kyodo

Tokyo stocks opened higher Wednesday, a day after the Nikkei lost 2 percent, as sentiment improved after modest gains on Wall Street and an unexpected jump in Japan's machinery order data.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 59.34 points, or 0.63 percent, from Tuesday to 9,447.98. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 2.81 points, or 0.34 percent, to 827.41. The Second Section edged lower.

The nonferrous metal sector was the biggest winner, followed by the chemicals, and electronic machinery sectors. Losers included the sea transport, and miscellaneous sector that includes game giant Nintendo, as well as electricity and gas.

Market players picked up stocks that were battered on Tuesday due to a strong yen, with slight gains in U.S. stocks and a better-than-expected 10.1 percent rise in Japan's machinery data for August also aiding the mood, brokers said.

As the yen remains persistently strong, however, brokers said that the market was focused on the currency's moves amid caution about another currency intervention. The dollar was trading below the 82 yen line in early Tokyo deals.
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Publication:Japan Weekly Monitor
Geographic Code:9JAPA
Date:Oct 18, 2010
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