BS: Japan stocks up on solid US data, higher crude
TOKYO
Japanese stocks rose sharply Tuesday, lifted by encouraging U.S. manufacturing data, higher oil prices and a weaker yen.
The benchmark Nikkei 225 stock average rose 166.07 points, or 1.6 percent, to 10,371.09. The broader Topix index added 1.6 percent to 912.82.
Gains in U.S. manufacturing and personal incomes helped buoy sentiment, particularly after last week's stronger economic growth figures.
Oil and coal companies led gains as crude prices headed toward $75 a barrel Tuesday in Asia. Nippon Oil Corp. surged 6.2 percent to 445 yen, mirroring Nippon Mining Holdings Inc.'s 6.2 percent rise to 411 yen.
Exporters benefited from the dollar's advance against the yen, with Sony Corp. adding 3.1 percent to 3,155 yen and Canon Inc. up 2.7 percent at 3,610 yen. A weaker yen increases the value of repatriated overseas earnings.
Investors bought back into Toyota Motor Corp., which jumped 4.5 percent to 3,650 yen after announcing details of its plan to fix recalled vehicles. The issue has tumbled 10 percent over the past week amid worries about the recall's impact on earnings and long-term prospects.
In currencies, the dollar rose to 90.76 yen from 90.59 yen late Monday. The euro stood at $1.3944 from $1.3928.