Japanese stocks in seldom seen upswing

Published: Jan. 5, 2009 at 4:19 PM
Order reprints
Today's Price of Crude Oil
TOKYO, Jan. 5 (UPI) -- A broad range of stock gains pushed Japan's Nikkei 225 index above 9,000 for the first time in nearly two months Monday.

The first trading day of the year in Japan concluded with a 2.07 percent rise in the index, which advanced for the fifth consecutive trading day, closing at 9,043.12.

The five-day advance was the first streak of that duration since last April, Kyodo News reported.

Gains were widespread with automakers gaining as the U.S. dollar regained strength, which means Japanese exports will be cheaper.

Iron and steel rose along with crude oil prices, which were elevated in New York with a production cut from petroleum exporting countries kicking in at the first of the year.

Brokers also said they were optimistic that U.S. President-elect Barack Obama would pass a economic stimulus bill, which would increase purchasing power in the critical U.S. marketplace.


© 2009 United Press International, Inc. All Rights Reserved.



Croatia leads U.S. 2-0 at Davis Cup tennis (7 min)
MLB: St. Louis 8, Chicago Cubs 3 (18 min)
Report: Bailout funds could help small biz (45 min)
Werth named NL All-Star for Beltran (46 min)
Home sales rise in Baltimore area (50 min)
Lawsuit filed in cemetery desecration (53 min)
Canadian PM apologizes at G8 for blunder
fark
Patronizing Tijuana hookers while on drugs may be unhealthy, according to Dr. N.S. Sherlock, of...
Defense lawyers request words like "polygamy,""cult" and "compound" not be used in their client's...
TSG Mugshot roundup: Twin billing
Barbie-Con visitors split on major issue: Are you allowed to open her box and play with it?
It's been 10 years since "The Blair Witch Project." Where were you when this crappy, one-joke, overhyped...
While serious people debate health care, CNN does interview with morons from West Virgina who ignored...