24th October 2011
The Japanese Nikkei has seen a significant upturn in fortunes over recent days following a strengthening of commodity markets, it has been revealed.
Bloomberg reports improved figures coming out of China in terms of manufacturing output have helped the Nikkei realise growth of 1.9 per cent to 8,843.98 at the close of trading - its largest daily rise since October 11th.
Masatsugu Okeya, a fund manager at Chiba-Gin Asset Management, told the news provider: "The economy hasn't been hit as hard as it did after the Lehman Shock, so investors are taking another look at commodities."
The Wall Street Journal recently reported confidence in Asian markets has been increasing in the past few weeks, with strong Australian jobs data and an upturn in confidence helping indices to pull back losses from earlier in the month.
Mark Smith, economist at ANZ Bank in Wellington, told the publication that equity markets continue to give the eurozone the benefit of the doubt in terms of its stability, with investor confidence improving as a result.
Posted by Andrew Cottrill
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