Stocks rise 2 per cent on Wall Street gains, industrial output

Stocks rise 2 per cent on Wall Street gains, industrial output Tokyo - Stocks rose more than 2 per cent Friday as the Tokyo market sentiment improved thanks to overnight gains on Wall Street and Japan's July industrial output data.

The benchmark Nikkei 225 Stock Average jumped 279.37 points, or 2.19 per cent, to 13,047.62.

The broader Topix index of all first-section issues was also up 27.96 points, or 2.29 per cent, to 1,247.49.

Japanese industrial production in July grew 0.9 per cent in seasonally adjusted terms, compared to the previous month, the government said Friday.

The data came out better than the average market expectation of a 0.3-per-cent decline and stronger than a 2.2-per-cent drop logged in June.

The index of output at mines and factories stood at 107.9 against 100 for the base year of 2005, the Ministry of Economy, Trade and Industry said in a preliminary report.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 109.39-44 yen, up from Thursday's 5 pm quote of 108.89-92 yen.

The euro was quoted at 1.4702-07 dollars, down from Thursday's 5 pm quote of 1.4761-64 dollars, and at 160.87-92 yen, up from 160.76-80 yen. (dpa)

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