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Japanese Market Up Sharply On Wall Street Cues Daily Markets

02.06.10

(RTTNews) - The Japanese stock market is trading firm on Thursday with the overnight positive close on Wall Street and a weaker yen buoying up sentiment to a significant extent.

The benchmark Nikkei 225 index, which vaulted to 9,880, is currently trading at 9,848, up 244.8 points or 2.56% over its previous close.

With the mood remaining quite bullish, just four stocks out of the 225-stock strong Nikkei index are in negative territory at present.

Automobile, steel and non-ferrous metals stocks are among the top gainers. Shares of retail houses, insurance companies and trading firms are also up with notable gains.

Shares of Fast Retailing are up sharply following an announcement from the company that same-store sales at clothing unit Uniqlo Co. rose 3.1% on the year in May, to mark the first increase in three months. The stock tops the list of Nikkei gainers, with a 7.6% jump.

Toyota Motor Corp. shares are up 3.6%, following a 6.7% year-on-year increase in May in new car sales in the U.S. Isuzu Motor, Hino Motors, Nissan Motor, Mazda Motor, Suzuki Motor and Honda Motor are up 3%-6%. Mitsubishi Motor is trading 1.7% up.

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