Monday, September 13, 2010

Nikkei rises 0.9 pct on upbeat U.S. data, technicals

TOKYO Japan's Nikkei average rose 0.9 percent on Monday, Sept 13 after more upbeat data helped sooth investor worry that the U.S. economic growth would slow, with technical charts also pointing to further gains for the index.

The benchmark Nikkei gained 86.47 points to 9,325.64. It rose 1.6 percent on Friday to 9,239.17, pulling away from a 16-month low of 8,796.45 hit on Sept. 1 and gaining 1.4 percent on the week.

The broader Topix added 0.8 percent to 840.59.

Meanwhile, Seoul shares opened up on Monday after firm gains on Wall Street and a rise in U.S. wholesale inventory data, lifting sentiment towards blue chip exporters such as Hyundai Motor.

Shares in Hyundai Homeshopping traded at 123,000 won compared to the initial public offering price of 90,000 won.

The Korea Composite Stock Price Index <.KS11> (KOSPI) was up 0.69 percent at 1,815.06 points as of 0004 GMT. - Reuters

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