Wednesday, July 28, 2010

Nikkei rises 1.2% on yen, earnings

TOKYO: Japan's Nikkei average rose 1.2 percent on Wednesday, July 28 helped by a weaker yen and strong corporate earnings at home and abroad, with investors keen to see if it will decisively break above a key resistance level, which would be a catalyst for more gains.

The benchmark Nikkei gained 117.62 points to 9,614.47, above resistance at 9,500, the level of its 25-day moving average.

The broader Topix added 1.2 percent to 855.88.

In Seoul,'' Seoul shares rose on Wednesday lifted by key exporters such as LG Display.

The Korea Composite Stock Price Index (KOSPI) was up 0.39 percent at 1,775.24 points as of 0003 GMT. - Reuters


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