Friday, July 23, 2010

#Flash* Nikkei up 2.1%, poised to snap 5-day losing run

TOKYO: Japan's Nikkei average rose 2.1% on Friday, July 23, poised to snap a five-day losing streak, as stocks rose broadly after earnings from economic bellwethers including Caterpillar Inc boosted Wall Street.

The benchmark Nikkei gained 189.11 points to 9,409.99, after having shed nearly 6 percent in the past five days. It fell 0.6 percent the previous day to its lowest close since July 2.

The broader Topix added 1.6 percent to 838.38.

In Seoul, shares rose on Friday led by blue chip TECHNOLOGY [] stocks such as Samsung Electronics, with investor confidence restored after strong earnings by U.S. companies.

The Korea Composite Stock Price Index <.KS11> (KOSPI) was up 1.12 percent at 1,756.86 points as of 0003 GMT. - Reuters

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