TOKYO -- Just like that, large cap tech plays in Japan were all the rage again on Tuesday, thanks to the near 3.4% bounce in the
overnight. A mildly optimistic June economic report from the
Economic Planning Agency
also helped sentiment in Tokyo, which punched the yen higher against the greenback as well.
index rose 316.20 points, or 1.9%, to 16,907.55, while the
index, which includes all shares listed on the
Tokyo Stock Exchange's
first section, climbed 25.91, or 1.7%, to 1559.79. The
small-cap index bounced 2.11, or 2.4% higher, to 88.97, while the Nikkei
index rose 25.23, or 1.5%, to 1751.02.
With Sunday's parliamentary elections keeping many investors at bay, most of the buying in the tech sector was via local dealers and short-term day investors. Volume was modest at best, and will continue on the low side until next week, traders said.
rose 100 yen, or 1.0%, to 9800 ($92.80),
Nippon Telegraph & Telephone
climbed 40,000, or 2.9%, to 1.4 million, while
gained 90, or 2.9%, to 3190.
rose 20, or 1.5%, to 1390 after the
Nihon Keizai Shimbun
reported the firm agreed to form a broad mainframe computer alliance with
Despite a calm debut yesterday for the eight shares listed on
, the sister bourse to America's Nasdaq, low liquidity and limited investor participation rocked many of the stocks today. Among the worst performers were
, down 250,000, or 4.4%, to 5.5 million, while
lost 200,000, or 7.1%, to 2.6 million.
The dollar lost ground against the yen and fell to around 105.60 after the EPA said Japan's economy was one step closer to a self-sustaining recovery.
index lost 180.73 points, or 1.1%, to 16,086.74 as bank and property shares got hit by profit taking.
Hang Seng Bank
shed HK$2.25, or 3.0%, to 72.50 ($9.30) while
Sun Hung Kai Properties
fell 2.25, or 3.8%, to 56.75.
fell 1.75, or 1.7%, to 99.25 despite news that the firm would gain HK$6.5 billion of exceptional profit from the merger of its Canadian unit
index jumped 29.94 points, or nearly 4.0%, to 785.32 after bank shares rallied during the last hour of trading. The government said it would inject funds into the money market and prop up ailing institutions.
jumped 1400 won, or 11.1%, to 14,000 ($12.48), while
Cho Hung Bank
rose 355, or 15.0%, to 2725.