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Asia Closes Higher. The Nikkei Jumps Over 17,000 |
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8:31 AM EST March 30 2006 |
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Asian-Pacific benchmarks finished broadly higher, following a rally in U.S. stocks. The Nikkei hit a new high, crossing the 17,000-point level for the first time in almost six years. The Japanese index rose 0.6% to 17,045.34 strongly supported by technology stocks like Tokyo Electron, up 1.8% and Kyocera, up 1.1%. The banking sector also contributed to the advance, helped by an upbeat report from Goldman Sachs Group which raised its profit estimates for 8 banks to a total of $28.8 billion. Hong Kong’s Hang Seng climbed 0.9%, taking a cue from U.S. and Japanese gains, Taiwan Weighted index rose 0.7% on tech stocks, while China Shanghai Composite fell 0.8%, dragged by profit taking in the property and metals sectors. |
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