April 9 (Bloomberg) -- Japanese stocks jumped, after machinery orders unexpectedly rose and the nation’s ruling party proposed a bigger spending plan to reinvigorate the economy.
“Spring has finally come to the market,” said Yoshiro Ito , senior strategist at Tokyo-based Okasan Asset Management Co., which oversees about $9.3 billion. “Though a north wind will occasionally blow, there will be more warm days in the market than cold ones from here on.”
The Nikkei 225 climbed 321.05, or 3.7 percent, to close at 8,916.06, giving it a gain on the year of 0.6 percent. The broader
Topix index rose 26.55, or 3.3 percent, to 841.81, with almost six stocks advancing for each that slumped.
Since reaching a 26-year low on March 10, the Nikeei has jumped 26 percent amid optimism stimulus spending and central bank policies will allay the global recession. Confidence among Japanese merchants rose to an eight-month high in March, a government survey showed yesterday, adding to signs a slump in the world’s No. 2 economy is abating.
...
“As signs of an economic recovery come into view, additional support measures will boost investor confidence,”
Mitsushige Akino, who oversees the equivalent of $615 million at Tokyo-based Ichiyoshi Investment Management Co., said in an interview with Bloomberg Television.
‘Growing Confidence’
Sharp, the nation’s largest maker of liquid-crystal display televisions, soared 11 percent to 900 yen, more than offsetting yesterday’s 6.1 percent tumble. The company yesterday said a factory in Sakai City, central Japan, will start production in October, earlier than its originally planned March 2010, because demand is expected to increase.
The schedule change is “a sign of growing confidence in the outlook” for the display business,
Carlos Dimas, an analyst for HSBC Holdings PLC, wrote in a report today. He raised Sharp to “overweight” from “underweight.”
...
http://www.bloomberg.com/apps/news?pid=20602063&sid=aEmGJBjldiRA&refer=movers_by_index
.....................................................................................................
Ogni bull market nella prima parte dai più era considerato un bear market rally