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Smooth Greek Debt Process And Weak Yen Takes Nikkei 225 Index Over 10,000; All Asia Markets Rise; Copper And Oil Increase
By: MT Newswires
With the Greek bond swap moving smoothly and the yen continuing to weaken, the Nikkei 225 Index topped 10,000 for the first time in seven months before closing at 9,929.74, stronger by 160.78 and 1.65%. The Hong Kong Hang Seng Index finished at 21,086.00, up 185.27 and 0.89%. The Standard & Poor's ASX 200 Index closed at 4,211.99, gaining 40.94 and 0.98%. At 2,439.49, the Shanghai was higher by 19.21 and 0.79% at the end of the regular session.
In futures action, the Nikkei 225 Index and Hang Seng Index continued surging. The Nikkei 225 Index is higher by 90.00 at 9,930.00, up 90.00. The Hang Seng Index is at 21,057.00, up 220.00. At 4,209.00, the Standard & Poor's ASX 200 Index is down 7.00.
Also bullish was the trading volume, reaching a one-year high. Traders swapped 2.65 billion share as March futures and options settled. March is traditionally the best month for the Nikkei 225 Index as it is the first month of the new fiscal year in Japan. Last month was the best February for the Nikkei 225 Index since 1991.
Helping to propel the Nikkei 225 Index higher is the lower yen. Now at a nine-month low against the US dollar, the yen is down 6% for 2012 in that important ratio. Today this helped Japanese exporters as Sony Corp ( SNE ) rose 4.3%, Toyota Motor Corp ( TM ) gained 2.7%, and Honda Motor Co ( HMC ) increased by 2.8%. The more the Japanese yen falls against the US dollar the cheaper Japanese goods are for American consumers.
ASIA STOCK MARKETS
*Nikkei 225 Index closed at 9,929.74, up 160.78 and 1.65%.
*Hang Seng Index closed at 21,086.00, up 185.27 and 0.89%.
*Standard & Poor's ASX 200 Index closed at 4,211.99, up 40.94 and 0.98%.
*Shanghai Index closed at 2,439.49, up 19.21 and 0.79%.
ASIA STOCK MARKETS FUTURES
*Nikkei 225 Index is at 9,930.00, up 90.00.
*Hang Seng Index is at 21,057.00, up 220.00.
*Standard & Poor's ASX 200 Index is at 4,209.00, down 7.00.
*UBS Bloomberg CMCI Index ( UAG ) is at 1,622.89, up 1.57%.
*Standard & Poor's GSCI ( GSG ) is at 703.06, up 5.44%.
*RJ/CRB Commodity (CRBQ) is at 315.06, down -0.98%.
*Rogers International Commodity Index (RCT) is at 3,871.88, up 7.90%.
*Gold (GLD) is at $1,683.50, down $15.20 and 0.90%.
*Oil (USO) is at $106.73, up $0.15 and 0.14%.
*Corn (CORN) is at $635.50, down $3.25 and 0.51%.
*Copper (JJC) is at $379.950, up $0.800 and 0.21%.
*EUR/USD (FXE) is at $1.3125, down 1.13%.
*GBP/USD (FXB) is at $1.5706, down 0.78%.
*USD/JPY (YCL) is at 82.320, up 0.96%.