Japan stocks up on car bailout hopes

By DPA,

Tokyo : Japanese stocks closed stronger Thursday after losing ground earlier in the day as rising commodity prices dimmed earnings prospects of Japanese companies.


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The benchmark Nikkei 225 Stock Average was rose 60.31 points, or 0.7 percent, driven up by the passage of a rescue plan for US carmakers by the House of Representatives while emerging opposition by Senate Republicans remained a cause of concern.

The broader Topix index of all first-section issues rose 14.7 points, or 1.76 percent, to 849.25.

On currency markets at midday (0300 GMT), the dollar was quoted at 92.53-58 yen, up from Wednesday’s 5 p.m. quote of 92.52-54 yen.

The euro was quoted at 1.3048-53 dollars, up from 1.2983-85 dollars, and at 120.77-82 yen, up from 120.12-16 yen the previous day.

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