Japan's Nikkei climbs, powered by exporters

reuters.com     Jul 24, 2008            

TOKYO (Reuters) - Japan's Nikkei average climbed 0.9 percent on Thursday, powered by Toyota Motor Co and other exporters after the dollar rose to a one-month high against the yen on the previous day's fall in oil prices. Mitsubishi UFJ Financial Group and fellow banks were also up after Wall Street gained on relief over help for troubled home financers Freddie Mac and Fannie Mae after President George W. Bush dropped a threat to veto a housing rescue bill. Oil fell $4 on Wednesday, extending its losses to more than $20 from the all-time peak above $147 a barrel hit on July 11, hitting energy-linked shares such as oil and gas field developer Inpex Holdings Inc . Market players cheered the gains in banks, which rose mainly on short-covering, but said the impact of this strength could well be limited. "There's certainly some... [read full story]                    

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