Date: Monday 26 Jul 2010
The Nikkei gained 0.77% on Monday as investors cheered the results of the European stress tests, with fewer than expected failing. Solid US company earnings also spurred buyer appetite. Shares on the move included Canon, up 3.1% in Tokyo, on optimism about demand from Europe. Toyota, Nissan and Honda also carved out respectable gains.
A record surge in German business sentiment in July boosted market sentiment. Investors are also gearing up for corporate results at home from big names such asSony and Honda later this week.
In economic news Japanese exports surged a stronger than expected 27.7% in June from a year earlier, according to figures from the Finance Ministry in Tokyo.
The Nikkei 225 index closed 72 points higher at 9,504.
The Hang Seng rose 0.12% on Monday as real estate and some financials enjoyed early demand. Shares in Standard Chartered rose 1.2% in Hong Kong on fresh optimism about the global recovery. HSBC advanced 0.7%.Bank of China however fell 0.5% while Bank of Communications dropped 1%.
Sun Hung Kai Properties rose 1.1%.
The Hang Seng index closed 24 points higher at 20,840.
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