Wednesday, July 14, 2010

#Flash* Nikkei surges 2.2% in early trade

TOKYO: Japan's Nikkei climbed 2.2 percent on Wednesday, July 14 breaking above a key resistance level as tech firms gained after Intel results beat expectations, buoying overall sentiment.

Nikon Corp, a maker of steppers, surged 2.6 percent while other chip-linked shares were untraded due to a glut of buy orders.

The benchmark Nikkei rose 207.40 points to 9,744.73.

The Nikkei's 25-day moving average currently comes in around 9,660 and was seen as a key resistance level.

The broader Topix gained 1.6 percent to 868.23. - Reuters

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