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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Global Stocks Up; China Inflation Jumps 5.5%

Stocks in this article: HMC VFC TBL WEN

BANGKOK -- A round of confidence-building corporate deals in the U.S. helped lift world stock markets Tuesday, despite China's inflation rate jumping to a near three-year high.

Oil prices hovered around $97 a barrel. The dollar was lower against the euro and up slightly against the yen.

European shares were higher in early trading, building on momentum from Asia. Britain's FTSE 100 rose 0.6% to 5,807.58. Germany's DAX jumped 1.5% to 7,193.57 and France's CAC-40 added 1% to 3,845.75.

Wall Street was set for further gains, with Dow futures 85 points higher to 11,970 and S&P 500 futures more than 11 points higher to 1,277.70.

Japan's Nikkei 225 index rose 1.1% to close at 9,547.79. Tokyo Electric Power , the embattled Japanese utility known as Tepco, soared 25.1% after announcing it had begun testing a new radioactive water treatment system at its troubled Fukushima Dai-ichi nuclear power plant. Tepco has been struggling to get control of a radiation leak at the plant since it was crippled by an earthquake and tsunami on March 11.

Shortly before markets closed, Honda (HMC) announced that profit is expected to plunge 63.5% for the fiscal year ending March 2012 because of the earthquake and tsunami.

It said vehicle production in Japan is expected to be back at nearly normal levels by later this month. Production in regions outside of Japan is expected to be back up to pre-disaster levels in August or September. Honda shares closed up 0.7%.

South Korea's Kospi rose 1.4% to 2,076.83. Among the most active shares was Hynix Semiconductor, a world leader in memory chip production, gaining 1.1%. Samsung Electronics, the top global manufacturer of flat screen televisions, memory chips and liquid crystal displays, rose 1.2%.

Australia's benchmark S&P/ASX 200 gained 0.5% to 4,586.50. Benchmarks in Taiwan, New Zealand and Indonesia were higher, while those in the Philippines and Singapore slipped. Hong Kong's Hang Seng fell less than 0.1% to 22,496. Mainland Chinese shares advanced after the government announced that inflation in May was 5.5%, the highest in almost three years but not as high as some forecasts had suggested.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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