By Michael Kitchen
LOS ANGELES (MarketWatch) -- Japanese shares rose Tuesday morning, helped by some strong earnings, gains in the U.S., and gains in some resource prices overnight. The Nikkei Stock Average (JP:NI225 10,275, +36.58, +0.36%) added 0.5% to 10,287.1, and the Topix climbed 0.6% to 915.06, with banks and trading houses among the winners. A tripling of profit at Mizuho Financial Group Inc. (JP:8411 157.00, -1.00, -0.63%) (MFG 3.88, -0.02, -0.51%) for the April-December period sent the lender's shares up 1.3%, while larger rival Mitsubishi UFJ Financial Group Inc. (JP:8306 425.00, -1.00, -0.23%) (MTU 5.20, 0.00, 0.00%) rose 0.9%. Stock in Honda Motor Co. (JP:7267 3,545, +70.00, +2.01%) (HMC 43.54, +1.31, +3.10%) improved by 2.3% after the company raised its outlook for the fiscal year ending March 31, even though it posted a drop in profit for the last quarter of 2010. Trading houses benefited from a rise in some commodity prices, with Mitsui & Co. (JP:8031 1,394, +14.00, +1.01%) (MITSY 337.40, +3.54, +1.06%) adding 0.7%, and Mitsubishi Corp. (JP:8058 2,300, +15.00, +0.66%) (MSBHY 55.85, +0.59, +1.07%) up 1%. |
