Shares in Japan rise after holiday

Jessica TranterLast Update : Friday 6 May 2016 - 4:44 AM
Shares in Japan rise after holiday

Shares in Japan rise after holiday

Man smiling at NikkeiImage copyright Getty Images

Japanese markets kicked off Friday’s trading session on a positive note as a weaker yen gives a boost to stocks of exporting companies.

The benchmark Nikkei 225 index rose 0.4% at the open to 16,212.67. The market is back online after a three-day national holiday,

Shares in Japanese car manufacturers Nissan and Honda were both up in early trading.

But markets in Australia, opened lower, dragged down by banking stocks.

The benchmark S&P ASX 200 share index edged lower by 0.9% (-47.30 points) to 5,231.80.

Shares in financial firms Westpac, ANZ Bank and National Australia Bank were all down, as investors took profits on their recent gains.

But Macquarie Group shares were up by 0.72%. The Australian lender posted a record annual net profit of A$2.06bn ($1.54bn; £1.06bn) for the year to the end of March.

Macquarie said the earnings growth was driven by its wealth management and retail banking operations.

Markets in South Korea have shut for a long weekend from Thursday, and trading there will resume on Monday.

Source: BBC Business

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2016-05-06 2016-05-06
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Jessica Tranter