Thursday, February 12, 2015

Japanese Stocks Hit 7 Year High

Japanese shares hit a seven-and-a-half-year high despite news that the latest talks in the eurozone over Greece ended without a resolution.

Eurogroup head Jeroen Dijsselbloem said six hours of talks produced no agreement to extend Greece’s 24bn euro ($270bn; 17.8bn) bailout plan.

The Nikkei 225 closed up 1.9% at 17,979.72 – its highest level since July 2007.

The dollar was at 120.28 yen, down from 120.35 yen in US trade.

Investor sentiment was boosted by data that showed Japan’s core machinery orders rose in December at the fastest pace in six months, and that companies expected orders to increase.

The 8.3% month-on-month gain was much higher than the forecast for a 2.4% increase.

Shares in industrial robot maker Fanuc soared 6.2% and hit a record high after local media reported that hedge fund Third Point had bought a stake in the company.

via BBC

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