business

Tokyo stocks up on U.S. output data

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Tokyo stocks rose Thursday on upbeat U.S. industrial output data that lifted exporters, but bank shares fell as investors were cautious over policies that the new Japanese Prime Minister Yukio Hatoyama's government envisions. The 225-issue Nikkei Stock Average gained 173.03 points from Wednesday to 10,443.80. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was weighed down by losses in financial shares but ended up 8.09 points to 939.52.

Resource-related shares benefiting from higher commodity prices were among the top gainers, led by iron and steel, mining and nonferrous metal issues. Major decliners included banking, real estate and consumer finance issues. ''Tokyo stocks rose in response to New York gains overnight,'' said Masatoshi Sato, a senior strategist at Mizuho Investors Securities Co, referring to better-than-expected growth in U.S. August industrial production that bolstered investor confidence in a global recovery and sent U.S. stocks to new highs for the year.

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the dollar is still below 91

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Intervene on the dollar rate before its too late!!!

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