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Japanese shares up on US, European gains

Posted by on February 17, 2011 0 Comment

Tokyo, Feb 17 (DPA) Japanese stocks rose in Thursday morning trading as investors sentiment was boosted by overnight gains on the US and European markets.

The benchmark Nikkei 225 Stock Average added 41.28 points, or 0.38 percent, to trade at 10,849.57 while the broader Topix index was up 6.11 points, or 0.63 percent, at 973.41.

Tokyo stocks opened higher, briefly rising to as high as 10,891.6, the highest since April 30, after US stocks ended higher Wednesday.

The Dow Jones Industrial Average climbed 0.5 percent, as the Federal Reserve raised its economic forecast for the US.

The US central bank predicted growth of between 3.4 and 3.9 percent in 2011, up from November projections, but said the improved outlook was unlikely to drive down unemployment rates from their current level of 9 percent.

On currency markets at 9 a.m. (0000 GMT), the dollar traded at 83.60-62 yen, down from Wednesday’s 5 p.m. quote of 83.72-73 yen.

The euro traded at $1.3573-3574, up from $1.3544-3545 Wednesday, and at 113.47-48 yen, up slightly from 113.39-43 yen.

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