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Nikkei Ends Q2, H1 on High Note

June 29th, 2007 · No Comments

* Nikkei 225 Stock Average: +206.09 (+1.1%) to 18,138.36, first day in three back above 18,000; highest close in a week; heavy buying from foreign investors; window-dressing by fund managers; weak yen expected to boost profits
* Nikkei 225 futures Osaka: +190 (+1.1%) to 18,160; Chicago [CME] 18,180, Singapore [SGX] 18,145
* TOPIX: +23.76 (+1.4%) to 1,774.88; Advancers 1,218 x decliners 383 (unchanged 130), New highs 82 x new lows 12; 30/33 sectors posted gains
* Jasdaq: +0.21 (+0.3%) to 82.10
* Yen weakness persists — above 123 level against US$

May CPI down slightly for fourth-consecutive month. Unemployment flat, stable at 3.8%. Household spending up 0.4% y/y, up for fifth-straight month. Rate hike expected in August, but slow going from there.

Tankan (quarterly business confidence survey) to be released by Bank of Japan on Monday; U.S. markets close early Tues., closed Wed. — thin trading ahead

Tags: Market Summary

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