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.”
Omani companies can register online from August
Omani companies can register themselves online from August, officials announced after an agreement was signed between Data Park and the Oman Chamber of Commerce and Industry (OCCI), which took place
Selling pressure drags Oman index lower
Continued pressure on the banking sector drove down the MSM30 Index by 1.08 per cent to close at 5,543.09 points. The MSM Sharia Index ended at 839.52 points, down 0.58 per cent. Bank Muscat remained