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Tokyo: Stocks rise following China rate cut, US jobs
[TOKYO] Japanese stocks rose for a second day after China's central bank cut interest rates for the third time in six months and following a rebound in US hiring.
Mitsubishi Corp gained 3 per cent after the trading company said it plans to buy back shares. Sharp Corp fell 31 per cent after saying it's considering cutting capital and issuing preferred shares.
The Topix index climbed 1.5 per cent to 1,612.16 as of 9:13 a.m. in Tokyo, with all but one of its 33 industry groups rising. Volume on the measure was 50 per cent above its 30-day intraday average. The Nikkei 225 Stock Average added 1.5 per cent to 19,674.36.