Nikkei rises to more than 1-month high as exporters get boost from weak yen

Japan’s Nikkei share average soared to a more than one-month high on Wednesday morning as exporters such as automakers and technology firms got a boost after the dollar hit a six-month high against the yen.

The Nikkei surged 1.0 percent to 22,921.20 at morning close after rising to 22,949.32, its highest point since June 13.

Toyota Motor Corp advanced 1.5 percent, Mazda Motor Co surged 1.8 percent, TDK Corp soared 3.2 percent, Advantest Corp added 2.1 percent and Panasonic Corp rose 1.5 percent.

Drugmaker Shionogi & Co surged 1.9 percent after Swiss drugmaker Roche’s late-stage study showed that its new flu drug worked for people at high risk for serious flu complications.

The broader Topix gained 0.7 percent to 1,758.02.

Source: Reuters

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U.S. Stocks Drop From 5-Month High; Bonds, Dollar Slump

The S&P 500 Index dropped from a five-month high as investors continue to weigh earnings against a backdrop of trade tensions. The dollar and Treasuries also declined.

The benchmark index fell below the key 2,800 level, as losses in energy offset gains in financials. Earnings were better-than-expected from the likes of Bank of America Corp. and BlackRock Inc., while there was an upbeat early releasefrom Deutsche Bank AG, but it did little to spur equities. Ten-year Treasury yields rose, while the greenback declined against most peers following strong upward revisions to U.S. retail sales.

The S&P 500 Index fell 0.2 percent as of 11:56 a.m. in New York. The Dow Jones Industrial Average slumped less than 0.1 percent. The Nasdaq Composite Index dropped 0.2 percent.

Source : Bloomberg

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Most Asia Stocks Rise as Focus Shifts to Earnings From Trade War

Most Asian equity benchmarks rose on Tuesday, as investors looked past the start of a U.S.-China trade war to focus on the upcoming earnings results.

The MSCI Asia Pacific Index gave up its intraday gain of as much as 0.6 percent to little changed at 165.73 as of 4:39 p.m. in Hong Kong. More than three stocks rose for every two that declined on the benchmark. Australia’s S&P/ASX 200 Index ended 0.4 percent lower and Hong Kong closed little changed after earlier rising as much as 1 percent. Singapore’s Straits Times Index rose 1.3 percent while Japan’s Topix index closed 0.3 percent higher.

Source : Bloomberg

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