Nikkei jumps on weak yen, oil price slump; heads for big monthly gain

jueves 27 de noviembre de 2014 21:49 GYT

* Weak yen helps export shares
    * Oil price fall seen positive for exporters
    * ANA Holdings jumps to highest since Mar 2011

    By Thomas Wilson
    TOKYO, Nov 28(Reuters) - Japanese stocks gained ground on
Friday as a weaker yen helped exporter stocks, while falling oil
prices were seen as likely to stimulate global demand,
supporting investor sentiment.
    The Nikkei benchmark added 1.0 percent to 17,410.87
by 0125 GMT, and is on course for a monthly gain of around 6
percent. The Nikkei has risen over 10 percent since the Bank of
Japan stunned markets with fresh easing on Oct 31. 
    "Japan is amidst a perfect positive storm," said Stefan
Worrall, director of equities cash sales at Credit Suisse.
    "The oil price decline is stimulatory to world demand for
Japanese exports, and offsets the impact of the weak yen on
domestic energy costs."
    The weak yen gave a leg up to major export shares. The
Japanese currency traded at 118.21 against the dollar by 0115
GMT, near weekly highs of 118.57.
    Toyota Motor Corp jumped 1.6 percent and Panasonic
Corp gained 0.5 percent, while Honda Motor Co 
added 1.0 percent. 
    Oil prices plunged on Thursday after OPEC chose not
to cut production despite huge oversupply and prices sliding by
a third since June. [ID: nL6N0TH14H]    
    With airlines set to benefit from cheaper fuel costs, ANA
Holdings Inc was the Nikkei's best performer, jumping
5.3 percent to its highest since March 2011. Japan Airlines Co
Ltd also surged 4.0 percent. 
    On the negative side of the ledger, OPEC's decision did hit
Japan's oil production-related shares. Inpex lost 5.0
percent, while Japan Petroleum Exploration Co Ltd fell
2.8 percent.
    Japan's core consumer price index, which includes oil
products, slowed for a third consecutive month in October,
highlighting the challenges facing the economy as it attempts to
overcome deflation. [ID: nL3N0TG1KW]
    But market participants were unconcerned, emphasising that
the Bank of Japan's aggressive easing last month was a
pre-emptive move against deflation.
    The broader Topix gained 0.9 percent to 1,403.80.   
The JPX-Nikkei Index 400 added 0.8 percent to

 (Editing by Eric Meijer)