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Wednesday, 16th June 2010
In Business In Japan,

Japanese stocks enjoy sharp rise

Stocks on the Japanese Nikkei stock exchange have risen by 0.1 per cent, new figures have shown.

Among the Japanese firms which enjoyed rises were Nippon Airways, whose stock went up 2.8 per cent. The airline, which is the second biggest in Asia, also had its stock rating changed from overweight to equal-weight by Morgan Stanley Tokyo analyst Takuya Osaka.

Hodagaya Chemicals saw a rise in stock value of 3.2 per cent, putting its shares at 323 yen (£2.38 pounds). Other firms which benefited from the jumps included the Frontier Real Estate Investment Corp. Stocks in this firm rose by three per cent, giving them a value of 650,000 yen at the end of play.

The rise in Japanese stocks was strongly linked to a good day on Wall Street, which Daily Markets reported had a "buoyant close".

Shares in Japanese motor companies Suzuki and Nissan also rose on the Nikkei index.

Written by Kimberley Homer.