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Markets

Japan stocks rise 0.31 percent by break

Published Updated

 TOKYO: Japanese shares rose 0.31 percent by the break Monday, following gains on Wall Street after a positive US jobs report and Greece's private debt deal to avert a disastrous default.

The Nikkei 225 index at the Tokyo Stock Exchange ended the morning session up 31.05 points at 9,960.79, after topping the 10,000 mark in early trade.

The Topix index of all first-section issues rose 0.10 percent, or 0.83 points, to 849.54.

Tokyo shares extended Friday's gains after better-than-expected US non-farm payrolls data pushed the dollar above the 82.00 yen mark.

"Several positive factors are lined up," Yumi Nishimura, senior market analyst at Daiwa Securities, told Dow Jones Newswires, adding that Japan's core machinery orders released earlier Monday beat expectations.

The dollar traded at 82.16 yen in Asian trade, edging down from 82.44 yen in late trade Friday in New York.

"Uncertainty over global economic growth is receding," Hiroichi Nishi, general manager of the equity division at SMBC Nikko Securities, said.

China's larger-than-expected trade deficit for February, coupled with a slower-than-expected increase in inflation, "is likely to stoke expectations for further easing steps" by Chinese authorities, Nishi said.

The euro bought $1.3096 and 107.58 yen in Asian trade on Monday, compared with $1.3120 and 108.19 yen in New York late Friday. The Dow Jones Industrial Average rose 0.11 percent on Friday to finish last week at 12,922.02.

Major exporters were higher Monday with Sony shares up 0.11 percent at 1,720 yen and Tokyo Electron rising 1.11 percent at 4,525 yen.

Copyright AFP (Agence France-Presse), 2012

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