Stocks rise on bets elections yield new leadership
News On Japan via BusinessWeek -- Nov 16
Japan's Topix Index (TPX) capped the biggest two-day gain since March 2011 amid surging volume as the yen weakened on speculation elections next month will hand power to an opposition party pushing for more central-bank easing.
Exporters Canon Inc. (7751) and Honda Motor Co. gained more than 5 percent as the currency's depreciation boosting the earnings outlook. Daiwa Securities Group Inc. jumped 7.1 percent to lead gains among brokerages. Ube Industries Ltd. sank 5.6 percent after Citigroup Inc. and Nomura Holdings Inc. cut their equity ratings on the chemicals maker.
The Topix rose 1.9 percent to close at 751.34 in Tokyo, with more than three shares advancing for each that fell. The gauge rose 4 percent in the last two days after elections were called for next month. For the week, the measure climbed 2.8 percent. The Nikkei 225 Stock Average (NKY) rose 2.2 percent to 9,024.16 on volume 62 percent above the 30-day average.
|| Miss International 2013 kicks off in Japan |
| || The Miss International 2013 beauty pageant has begun in Tokyo, Japan, on 7 December. Over 72 contestants will compete with each other for the 53rd Miss International title. (ibtimes.co.in ) |
|| Woman, six teenagers in Japan's Hyogo arrested for sex abuse |
| || A 43-year-old woman and other six boys and girls aged 14 to 18 years have been arrested by police in the western Japanese prefecture of Hyogo in connection with the abuse of a 15-year-old junior high school student, local press reported on Tuesday. (Global Times ) |