US stocks buoyed by strong Japanese data

Written By Unknown on Senin, 01 Juli 2013 | 22.35

US stocks have opened the second half of the year higher helped by a rebound in Asian markets, as a surge in Japanese business confidence offset weak Chinese manufacturing data.

Thirty minutes into trade on Monday, the Dow Jones Industrial Average rose 126.64 (0.85 per cent) to 15,036.24.

The broad-based S&P 500 jumped 14.70 (0.92 per cent) to 1,620.98, while the tech-rich Nasdaq Composite Index put on 42.27 (1.24 per cent) to 3,445.52.

"Stocks are poised to open up the third-quarter on a positive note," said Wells Fargo in a market note.

"An unexpected positive reading in Japanese corporate sentiment is helping investors overlook a weak reading in Chinese industrial activity."

The Nikkei 225 index closed Monday 1.3 per cent higher after a quarterly central bank reading of economic sentiment moved sharply higher and into positive territory for the first time since September 2011.

Equity indices in Britain, France and Germany were also higher.

AFP goc


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