TOKYO -- Asian technology shares rallied hard Wednesday following the
near 4% rise overnight, while investors in Tokyo also concentrated on the expected jump in operating profits for this fiscal year.
Meanwhile, the euro hit an all-new low against the dollar during Asian trading.
index rose 334.12, or 2.1%, to close at 16,458.31, while the
index, which includes all shares listed on the
Tokyo Stock Exchange's
first section, climbed 30.02, or 2.0%, to finish at 1520.65. The
small-cap index rose 1.28, or 1.7%, to end at 76.42, while the Nikkei
index gained 17.78, or 1.1%, to stand at 1618.15.
Large-cap tech shares jumped higher, including
, up 320 yen, or 2.7%, to 12,260 ($114.94), and
, up 195, or 7.2%, to 2895.
gained 28, or 3.2%, to 911 after the
Nihon Keizai Shimbun
said the firm's group operating profit would nearly double from previous estimates to 190 billion yen for the year ending March.
In economic news, the ruling
Liberal Democratic Party
gave its preliminary thumbs-up to adopt its tenth economic stimulus package in eight years to keep the economy chugging. Although the headline number may be as high as 10 trillion yen, new spending will be about 4 trillion yen. The money will largely go towards disaster prevention programs, loans to small- and mid-sized firms and building information technology programs.
With dealers not fearing a joint intervention to prop up the euro any time soon, the battered currency fell to a fresh historic low against the dollar to 0.8465. The greenback consequently fell slightly against the yen to fetch 105.66.
index recorded its biggest gain in six weeks, rising 34.91, or 6.1%, to close at 606.08. After foreign investors fled the market due to jitters over the
breakdown of the sale of
, some bargain hunters finally materialized, traders said.
rose KW22,000, or 10.6%, to 230,000 ($204.26), while
Hyundai Electronics Industries
gained 2200, or 14.8%, to 17,100.
index fell 11.58 to close at 15,665.62 in slow trading. Shares of
Pacific Century Cyberworks
were suspended from trading midday, after
Cable & Wireless PLC
reportedly was getting ready to place 1.04 billion shares of PCCW to the market. According to local reports, the shares could be placed 7% to 10% below the last price of HK$10.75 ($1.38).
index rose 145.9, or 2.2%, to stand at 6880.09.