Share

Tokyo stocks up 0.48%

Tokyo -Tokyo stocks rose 0.48% Thursday morning, snapping three days of falls after US share prices and the dollar rebounded.

The Nikkei 225 index was up 63.80 points at 13 402.26 by the break while the Topix index of all first-section issues edged 0.04%, or 0.47 points, higher to 1 114.50.

The rises in Tokyo followed a rebound on Wall Street led by energy companies benefiting from an oil price spike as the West mulls a possible attack against Syria for its alleged use of chemical weapons.

"The Nikkei's rebound lacks strength as investors continue to stay on the sidelines as they wait for the US and its allies' action against Syria," said Yoshihiro Okumura, general manager for research at Chibagin Asset Management.

"Amid uncertainties surrounding Syria, the rising oil price is a negative factor, as it leads to higher costs, especially for corporations like power companies," he told Dow Jones Newswires.

The dollar was at ¥97.60 in Tokyo midday trade, marginally down from ¥97.71 in New York Wednesday afternoon but still up from ¥97.13 in Tokyo Wednesday.

The Indian rupee, which fell nearly 4% to a new record low of 69.22/$ on Wednesday was at 68.82.

Suzuki Motor, with a heavy exposure to India, soared 2.91% to ¥2 119, rebounding from a 5.4% fall on Wednesday.

The oil sector outperformed after US oil futures rose to a nearly two-year high driven by speculation over potential supply disruptions.

Oil explorer Inpex jumped 5.32% to ¥455 000 and oil refiner JX Holdings was up 2.30% to 533.

Power companies were sharply lower with Tokyo Electric Power, hit by high oil prices while struggling to contain a crisis at the crippled Fukushima nuclear power plant, fell 5.29% to ¥483.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.89
+0.2%
Rand - Pound
23.84
+0.3%
Rand - Euro
20.36
+0.4%
Rand - Aus dollar
12.30
+0.3%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders