Will the SNE rally continue? Looking good per Nikkei
Wednesday March 10 12:55 AM ET
Sony, Dow Boost Tokyo Shares
SINGAPORE (Reuters) - Tokyo stocks continued moving up Wednesday, boosted by a surge in
electronics giant Sony Corp (NYSE:SNE - news) following earlier restructuring news.
Most other major Asian markets were also in positive territory.
Japan's benchmark Nikkei index was up 1.21 percent or 182.45 points at 15,279.15 in early
afternoon trade, helped by a brief rally in New York blue chips Tuesday, but it was Sony which
again stole the spotlight in the Japanese market.
''Sony staged another rally and that contributed a lot to the gains in the Nikkei 225 this morning,''
said Kokichi Kumagae, a manager at New Japan Securities Limited.
Sony, a leader among Japan's global manufacturers, extended its bull run, rising 7.5 percent or 820
yen to 11,760, after it unveiled plans Tuesday to consolidate its businesses and cut its workforce.
11760 = $97.19
Regards
Neil
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