Asia Markets
Tokyo stocks gain on techs
By Mariko Ando, CBS.MarketWatch.com
Last Update: 9:14 PM ET Oct 16, 2001
TOKYO (CBS.MW) - Tokyo stocks firmed early Wednesday on gains in technology shares following steady earnings reports from tech bellwethers in the U.S. overnight.
The Nikkei Average rose 21.26 points or 0.2 percent to 10,659.08 shortly after the open. The broader TOPIX advanced 0.3 percent to 1,081.24.
Major chipmaker NEC (NIPNY) gained 1.7 percent to 1,179 yen and Kyocera (KYO), the world's largest maker of integrated circuit ceramic packages, rose 2.3 percent to 8,820 yen in early trade.
Investors continued to buy tech shares on rising hopes that a prolonged slump in the global technology sector has touched bottom. Late Tuesday in the U.S., chip giant Intel (INTCW) and computing titan International Business Machines (IBM) beat Wall Street forecasts or managed to match estimates. See full story.
In New York, the Nasdaq climbed 1.5 percent, while the Dow advanced 0.4 percent.
In South Korea, benchmark Kospi rose 0.7 percent to 525.70 in early trade. Australia's All Ordinaries Index was trading up 0.4 percent at 3,157.40 in early morning trade.
The dollar edged up against the yen and trading at 121.40 yen early morning Tokyo, against 121.25 yen in New York late Tuesday. |
