Chief Stock Market Correspondent, EMEA
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Jun 19, 2013

Nikkei climbs to one-week high on SoftBank, investment trust

TOKYO (Reuters) – Japan’s Nikkei average hit a one-week high on Wednesday, with traders citing the launch of a near $780 million investment trust as a driving factor, while SoftBank Corp rose as it looked likely to win the battle for Sprint Nextel.

The Nikkei .N225 ended 1.8 percent higher at 13,245.22 points, its highest since June 12 and closing above the bottom of the Ichimoku cloud in a bullish sign.

Jun 18, 2013

Nikkei rises, on track for longest winning run since May 23 selloff

TOKYO (Reuters) – Japan’s Nikkei rose on Tuesday, heading for a third straight day of gains, which will mark its longest winning run since a sharp selloff on May 23, underpinned by hopes the Federal Reserve will reinforce its commitment to support the U.S. economy.

Sony Corp (6758.T: Quote, Profile, Research, Stock Buzz) climbed 3.6 percent after New York-based hedge fund company Third Point said it had raised its stake in the Japanese firm and asked for an opportunity to present its proposal for a partial spin-off of Sony’s entertainment unit to the board.

Jun 17, 2013

Nikkei advances on gains in defensive stocks, crawls out of bear market

TOKYO (Reuters) – Japan’s Nikkei share average climbed 1.2 percent on Monday as buying in defensive stocks helped reverse early losses, nudging the benchmark out of bear market territory.

By the midday break, the Nikkei was up 152.14 points at 12,838.66 after trading as low as 12,549.82 on the back of weak U.S. stocks on Friday. Monday’s gain took the index above its 100-day moving average at 12,735.31 but remained below the Ichimoku cloud in a bearish sign.

Jun 17, 2013

Japan’s Nikkei rises, spurred by defensive buying,

TOKYO (Reuters) – The Nikkei share average edged higher on Monday as buying in defensive stocks reversed early losses.

The Nikkei .N225 added 0.4 percent to 12,7329.85 after trading as low as 12,549.82 on the back of weak U.S. stocks on Friday. Monday’s gain took the index above its 100-day moving average at 12,734.37

Jun 14, 2013

Nikkei rises but still marks 4th straight week of loss

TOKYO (Reuters) – Japan’s Nikkei average climbed 1.9 percent on Friday, rebounding from a slump in the previous session, as robust data eased concerns over whether the U.S. economy can withstand a pullback in stimulus by the Federal Reserve.

“People are unwinding (short) positions, or people are trying to buy on dips. The market did rebound and the U.S. did well so people are buying on the back of that,” a senior dealer at a foreign bank said.

Jun 14, 2013

Nikkei bounces from Thursday’s plunge, technical charts still bearish

TOKYO (Reuters) – Japan’s Nikkei average jumped nearly 3 percent on Friday morning, recovering some of the previous session’s sharp fall, as robust data eased concerns over whether the U.S. economy can withstand a pullback in stimulus by the Federal Reserve.

“People are unwinding (short) positions, or people are trying to buy on dips. The market did rebound and the U.S. did well so people are buying on the back of that,” a senior dealer at a foreign bank said.

Jun 14, 2013

Nikkei rebounds, buoyed by robust U.S. data

TOKYO (Reuters) – Japan’s Nikkei average jumped 1.9 percent on Friday, recovering some of the previous session’s sharp fall, as robust data eased concerns over whether the U.S. economy can withstand a pullback in stimulus by the Federal Reserve.

“People are unwinding (short) positions, or people are trying to buy on dips. The market did rebound and the U.S. did well so people are buying on the back of that,” a senior dealer at a foreign bank said.

Jun 12, 2013

Nikkei slips but ends off day’s low of below 13,000

TOKYO (Reuters) – The Nikkei average slipped on Wednesday, extending the previous session’s decline on disappointment that the Bank of Japan offered no fresh measures to quell volatility that has hit the bond market since it embarked on its massive stimulus program in April.

The Nikkei .N225 ended 0.2 percent lower at 13,289.32 after trading as low as 12,994.08. The index trimmed losses in the afternoon, with traders suspecting the central bank was buying exchange traded funds to support the market.

Jun 10, 2013

Nikkei marks best day since March 2011 on U.S. jobs boost, GDP data

TOKYO (Reuters) – Japan’s Nikkei share average jumped 4.9 percent on Monday, marking its biggest one-day gain since March 2011, after U.S. jobs data eased growth concerns but was not strong enough for the Federal Reserve to scale back massive stimulus.

Investors were also encouraged by data that showed Japan’s economy grew 1.0 percent in January-March, revised up slightly from a preliminary estimate. The figures underscored a steady recovery driven by a pickup in global growth and sweeping stimulus policies by Prime Minister Shinzo Abe.

Jun 7, 2013

Nikkei slips but bounces off bear territory

TOKYO (Reuters) – Japan’s Nikkei share average sank into bear territory on Friday before recouping some of its losses on expectations that the country’s $1 trillion public pension fund would ramp up its buying of equities.

After the markets closed, the Government Pension Investment Fund (GPIF) said that it would lift its weighting in foreign and domestic stocks while cutting back its target allocation for Japanese government bond.

    • About Dominic

      "I am head of the European stock markets team based in London. Before that, I was with Reuters Hong Kong for more than 10 years, covering politics, banking, macro-economy and Asian G-3 currency bonds and credit."
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