Japan market summary for Friday (Nov. 30)
Nikkei 225 Stock Average: +166.93 (+1.1%) to 15,680.67
Nikkei 225 futures Osaka: +160 (+1.0%) to 15,730, Singapore (SGX) +155 (+1.0%) to 15,710, Chicago (CME) *11/29 +50 (+0.3%) to 15,585
TOPIX: +17.41 (+1.1%) to 1,531.88; Advancers 1,229 x decliners 406 (unch. 86), New highs 8 x new lows 7; 28/33 sectors posted gains
Nikkei Jasdaq: +2.49 (+0.1%) to 1,754.41
Yen: mostly unchanged against the US$ and euro late in Tokyo, at the 110.15 and 162.50-55 levels, respectively
Notes: Thank Fed Chairman “Uncle” Ben Bernanke and his sidekick governor for fueling the rate cut speculation bull case for stocks. Seems like stocks were higher everywhere, that is, except for Shanghai. The Nikkei Shimbun credits also credits the rally in Japan to so-called 「お化粧買い」 or “window dressing,” noting a strong rally from the PM session start that met resistance at the Nikkei 225′s 25-day moving average of 15,720. Separately, the market had a muted reaction to data showing a 35% decline in new housing starts — the fourth-straight monthly decline — since it was within expectations.
TOPIX 2 +0.9%, MOTHERS -0.7%, HERCULES +0.1%.
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