Tokyo - Asian stocks bounced up Thursday as investors were cheered by news from Japan, where the government prepared to unveil a 154-billion-dollar economic stimulus package and its machinery orders unexpectedly rose.
Japan's benchmark Nikkei 225 Stock Average surged 3.74 per cent to 8,916.06, a day after falling 2.69 per cent on concerns over upcoming corporate earnings reports. Thursday's gains erased the Nikkei's losses for the year.
Japan's broader Topix index of all first-section issues also rose 3.26 per cent to 841.81.
Tokyo - Japanese Prime Minister Taro Aso on Thursday vowed create 1.4 to 2 million new jobs in the next three years to pull the domestic economy out of the worst recession in the postwar era.
Aso's long-term policy aims at increasing the nation's real gross domestic product (GDP) by 120 trillion yen (1.2 trillion dollars) and create 4 million new jobs by 2020.
Aso unveiled a plan to invest in low-carbon technology, expand nursing-care facilities and the workforce caring for the nation's ageing population, and improve medical services.
Tokyo - Japan's key machinery orders unexpectedly rose for the first time in five months in February, giving rise to hopes for a recovery in capital spending and an easing of the recession.
Machinery orders increased 1.4 per cent from January to 728.1 billion yen (7.28 billion dollars) on the back of an unexpected recovery in orders from the non-manufacturing sector, the government said.
The increase was better than the average market expectation for an 8.1-per-cent fall and caused stocks to rise.
Tokyo - Asian stocks slumped Wednesday on concerns over upcoming corporate earnings reports and profit taking.
The day's sharpest stock losses were seen in Hong Kong and mainland China, where the major indices fell more than 3 per cent, as analysts predicted dismal earnings for companies for the quarter that just ended as well as for this year.
Japan's benchmark Nikkei 225 Stock Average plunged 2.69 per cent to 8,595.01 while its broader Topix index of all first-section issues was also down 2.08 per cent at
815.26.
Tokyo - Tokyo Governor Shintaro Ishihara on Wednesday expressed confidence in winning the bid to host the 2016 Olympics and said that North Korea's recent rocket launch was no security threat.
"I am confident in the race to host the Olympics," the controversial governor said at a press conference in Tokyo.
"Of the four candidate cities, Tokyo is the most appropriate place for it."
Tokyo - Asian stocks bounced up Thursday as investors were cheered by news from Japan, where the government prepared to unveil a 154-billion-dollar economic stimulus package and its machinery orders unexpectedly rose.
Tokyo - Japanese Prime Minister Taro Aso on Thursday vowed create 1.4 to 2 million new jobs in the next three years to pull the domestic economy out of the worst recession in the postwar era.
Tokyo - Japan's key machinery orders unexpectedly rose for the first time in five months in February, giving rise to hopes for a recovery in capital spending and an easing of the recession.
Tokyo - The Tokyo market bounced back Thursday after investors were cheered by better-than-expected machinery orders.
Tokyo - Asian stocks slumped Wednesday on concerns over upcoming corporate earnings reports and profit taking.
Tokyo - Tokyo Governor Shintaro Ishihara on Wednesday expressed confidence in winning the bid to host the 2016 Olympics and said that North Korea's recent rocket launch was no security threat.
