This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Japan Business Confidence Rises; Nikkei Up

TOKYO -- Japanese companies are regaining lost confidence and feeling less somber, the central bank said Thursday, thanks to an export boom that is lifting the country's corporate gloom.

The Nikkei 225 stock average in Tokyo ended higher Thursday by 1.39% to 11,244.40.

Growing faith in the global recovery produced solid numbers in the Bank of Japan's quarterly "tankan" survey of business sentiment. The report guides central bankers in monetary policy decisions and is a closely watched barometer of the country's economic health.

The tankan showed confidence rose for the fourth straight quarter, with the main index for large manufacturers at minus 14. The reading, generally in line with market forecasts, is an 11-point improvement from three months ago and is the highest level since September 2008. It hit a record low of minus 58 a year ago in the midst of Japan's worst recession since World War II.

The figure represents the percentage of companies saying business conditions are good minus those saying conditions are unfavorable. Therefore, the higher the number, the better the mood.

More encouraging are signs that export growth is starting to trickle home, spurring a lackluster domestic economy. "There has been this concern that exports go up, and nothing else happens," said Richard Jerram, head of Asian economics at Macquarie Capital Securities in Tokyo. "We've been arguing that you should get second-round effects ... and that certainly seems to be coming through quite well."

Sentiment among big non-manufacturers climbed to minus 14 from minus 21 in December.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,677.61 +5.01 0.03%
S&P 500 2,054.79 +2.97 0.14%
NASDAQ 4,764.8790 +7.00 0.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs