Japan Stocks

Seasonally adjusted unemployment rate in Japan fell to 3.8% after the number of unemployed fell to 2.31 million, a decline of 130,000 from a year ago.

Statistics Office in Japan reported average monthly consumption and income for the December month.

The average amount of monthly consumption expenditures per household in December 2007 was 351,667 yen, up 3.1% in nominal terms and up 2.2% in real terms from the previous year. The average amount of monthly income per household stood at 950,654 yen, down 1.8% in nominal terms and down 2.7% in real terms from the previous year. The amount of consumption expenditures was 379,388 yen, up 2.7% in nominal terms and up 1.8% in real terms from the previous year.

Mitsubishi UFJ, largest bank in Japan added 45 or 4.6% to 1,030 yen followed by similar rises in other banks. Real Estate companies advanced as well. Sumitomo Realty surged 6.1% or 145 yen to close at 2,525 yen.

As the fears of recession in the U.S. fades, shipping lines, exporters, and auto companies advanced. Toyota Motor added 3%, Nippon Yusen increased 8.1% to 825 yen, and Isuzo surged 10% or 38 yen to 433 yen.

Mitsui & Company added 7.2% or 141 yen to close at 2,950 yen as prices of commodities and metals advanced.