Japanese stocks up on positive machinery orders, US gains

Japanese stocks up on positive machinery orders, US gainsTokyo, March 9 - Japanese shares rose 1 percent in Wednesday morning trading as investor sentiment was boosted by better-than-expected machinery orders and an overnight rally on Wall Street.

The benchmark Nikkei 225 Stock Average added 108.27 points, or 1.03 percent, to trade at 10,633.46 while the broader Topix index was up 9.37 points, or 1 percent, at 948.53.

Japanese machinery orders rose a seasonally adjusted 4.2 percent in January from the previous month on a recovery in manufacturing sectors, the government said before the market opened.

The increase was above the average 2.9-percent rise forecast by economists in a survey by the Kyodo News agency.

On Wall Street, the Dow Jones Industrial Average jumped 1.03 percent Tuesday amid hopes that OPEC would increase oil production to make up for loss in Libya, where the conflict continued.

On currency markets at 9 a. m. (0000 GMT), the dollar traded at 82.81-84 yen, up from Tuesday's 5 p. m. quote of 82.44-45 yen.

The euro traded at $1.3894-3896, down from $1.3952-3953 Tuesday, and at 115.08-11 yen, little changed from 115.02-06 yen. (dpa)