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Market Update : 
Stocks in Japan and Asia Rebounded
Author: 123jump.com Staff
123jump.com
Last Update: 8:43 AM EDT April 15 2008

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Stocks in Japan and Asia rebounded on rising energy and metals prices. In Tokyo trading Nikkei 225 increased 0.6% or 73 to 12,990, and the broader Topix Index rose 0.8% to 1,255.97.Corporate bankruptcy filing increased 18% to 11,333 for the year ending in March. New condominiums put up for sale in the Tokyo metropolitan area in March fell for the seventh straight month by 17.8% from a year ago to 4,490 units.

 
Commodity stocks gained as crude oil prices traded near record high of $112 per barrel driven by supply disruptions in Nigeria, U.S. and Mexico and high demand in emerging countries.

Nippon Oil advanced 3.46%, Sumitomo Metal Industries increased 3.23% and Sumitomo Metal Mining gained 4.60%.

Kubota Corp led decliners in the Nikkei 225 index shares with a drop of 4.48% followed by losses in Clarion Co. Ltd of 4.25%, in OKI Electric Industries of 3.88%, in OJI Paper Co of 3.81% and Teijin Ltd of 3.17%.

Nippon Paper Group fell 2.79% and Hokuetsu declined 2.57%.
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