Stock Market News
Asia: Tokyo rallies as investors digest Tankan confidence survey
01-07-2014 10:22
Add To Google +1 | Tweet |
Stocks in Tokyo shrugged off a weak start to Tuesday's session as the latest Tankan sentiment survey showed a deterioration in confidence among Japan's largest manufacturers but a bigger than expected increase in investment plans.
Japanese business sentiment dipped in the three months to June, the latest Bank of Japan's Tankan survey showed. The index, which measures confidence among the nation's biggest manufacturers, fell to plus 12, from plus 17 in the previous quarter, marking the first deterioration in sentiment in six quarters.
However, the survey also showed Japan's largest companies plan to increase their investment by 7.4% in the current financial year, significantly more than the 0.1% gain signaled three months earlier and a clear indication that manufacturers are upbeat about the economy.
Among stocks movers, Sony added 1.3% after it said it was confident its television division will post a profit this year.
Olympus Corp advanced 2.3% while Japan Display climbed 1.9% in Tokyo.
The benchmark Nikkei 225 index closed up 1.08% or 164 points at 15,326 while the broader Topix closed up 13 points or 1.07% at 1,276. The Hang Seng was closed for holiday on Tuesday.
Manufacturing activity in China improved for the fourth consecutive month in June, at the fastest pace in six months, official government data showed.
The National Bureau of Statistics (NBS) said that the official manufacturing purchasing managers' index (PMI) rose from 50.8 in May to 51 in June, an indication that recent stimulus moves are starting to make a positive impact on the world's second largest economy.
Elsewhere the Reserve Bank of Australia kept its key interest rate at a record low on Tuesday.
CJ
Japanese business sentiment dipped in the three months to June, the latest Bank of Japan's Tankan survey showed. The index, which measures confidence among the nation's biggest manufacturers, fell to plus 12, from plus 17 in the previous quarter, marking the first deterioration in sentiment in six quarters.
However, the survey also showed Japan's largest companies plan to increase their investment by 7.4% in the current financial year, significantly more than the 0.1% gain signaled three months earlier and a clear indication that manufacturers are upbeat about the economy.
Among stocks movers, Sony added 1.3% after it said it was confident its television division will post a profit this year.
Olympus Corp advanced 2.3% while Japan Display climbed 1.9% in Tokyo.
The benchmark Nikkei 225 index closed up 1.08% or 164 points at 15,326 while the broader Topix closed up 13 points or 1.07% at 1,276. The Hang Seng was closed for holiday on Tuesday.
Manufacturing activity in China improved for the fourth consecutive month in June, at the fastest pace in six months, official government data showed.
The National Bureau of Statistics (NBS) said that the official manufacturing purchasing managers' index (PMI) rose from 50.8 in May to 51 in June, an indication that recent stimulus moves are starting to make a positive impact on the world's second largest economy.
Elsewhere the Reserve Bank of Australia kept its key interest rate at a record low on Tuesday.
CJ
Related share prices |
---|
Stock News is provided by Digital Look Corporate Solutions from Sharecast news. Please read the terms and conditions of useage of this data. Republication or redistribution of content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Digital Look Ltd.
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- RBS share price
- Diageo share price
- Standard Life Share Price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- Morrisons Share Price
- Aviva Share Price
- LGO Share price
- Tullow Oil Share Price
- SXX Share Price
- Easyjet Share Price
- Next Share Price
- Thomas Cook Share Price
- SSE Share Price
- IAG Share Price
- Bat share price
- Monitise Share Price
- Kingfisher share price
- Dragon Oil share price
- UKOG share price
- SOLG share price