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Nikkei rises 0.8%, tracking Wall St

Market was also lifted by government data showing Japan's economy grew 0.8% in Jan-Mar. -Reuters

Fri, May 16, 2008
Reuters

TOKYO
Japan's Nikkei average rose 0.9 per cent on Friday, led by exporters such as Canon, tracking overnight gains on Wall Street.

Bank shares like Mizuho Financial Group were flooded with buy orders.

As of 8.03am Singapore time, the benchmark Nikkei was up 129.69 points at 14,381.43. The broader Topix index gained 0.9 per cent to 1,405.78.

The market was also lifted by government data showing Japan's economy grew 0.8 per cent in January-March from the previous quarter, above market expectations for a 0.6 per cent increase.

It translated into an annualised increase of 3.3 per cent, compared with a consensus market forecast for a 2.5 per cent rise. -- REUTERS

 
 
 
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