Japan Stocks Rise After Rocket Fails, Pare Gains on China GDP

13/04/2012 10:14 AST

Japanese stocks rose, with the Nikkei 225 (NKY) Stock Average rising the most in two weeks, after a North Korean rocket launch failed and Fast Retailing Co. forecast record profit. Shares pared gains as slower growth in China tempered optimism from a surge in new lending.

Fanuc Corp., which provides robotics for mainland factories, pared gains to 2.8 percent after the China gross domestic product report. Canon Inc., a camera maker that gets 27 percent of its sales in the Americas, advanced 1.3 percent after the U.S. Federal Reserve signaled interest rates will remain low. Fast Retailing Co. (9983), Asia’s biggest clothier, jumped 8.6 percent.

“It’s better to have it fail than succeed,” said Masahiko Ejiri, a senior fund manager in Tokyo at Mizuho Asset Management Co., which oversees $39 billion, speaking of North Korea’s unsuccessful rocket launch. “Even if they do build a nuclear weapon, it doesn’t matter if they can’t make it fly.”

For more on this Click Here

Global News
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | News Archive
Most Viewed Companies
Ticker Price Volume
SAGRINSURANCE 30.41 1,225,252
RIBL 12.54 200,889
SABIC 89.79 6,033,659
STC 66.72 764,848
ALMARAI 80.79 282,056
GICI 0.26 8,000
Recent News

AUB named best Mideast private bank
Ahli United Bank (AUB) has been recognised as the Best Private Bank in the Middle East by Global Finance, a leading international banking and finance publication.

AUB as well as its associ

Abu Dhabi developer opens office in Bahrain
Eagle Hills, an Abu Dhabi-based private real estate investment company and developer, yesterday announced the launch of its official operational in-country office in Bahrain.

In November l

Bapco signs gas supply agreement with Garmco
A new gas supply agreement has been signed between Gulf Aluminum Rolling Mill (Garmco) and Bapco.

Garmco specialises in producing high quality flat rolled aluminium products in various si

Omani banks’ assets grow 13.6 per cent
Assets of Omani traditional commercial banks rose by 13.6 per cent to reach OMR27.9 billion in September compared with OMR24.6bn in the same period last year, official statistics show. A report issu

Abu Dhabi foreign trade hits AED111 billion in eight months
The emirate of Abu Dhabi’s non-oil foreign trade totalled AED111.1 billion in the first eight months of the current year, according to fresh figures.

The emirate’s highest non-oil foreign tr

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend


Looking ahead, what change you are more likely to make in investing in your domestic stock market?