Nikkei surges following Wall Street's rally; commodity stocks shine

jueves 27 de agosto de 2015 21:58 GYT
 

* Nikkei trades above 200-day moving average

* Nikkei still down 2.1 percent this week

* Short-selling ratio hit record high on Thurs

By Ayai Tomisawa

TOKYO, Aug 28 (Reuters) - Japan's Nikkei share average surged more than 2 percent on Friday, helped by further gains on Wall Street after strong U.S. economic data buoyed sentiment that had been shaken by fears of a China-led global economic slowdown.

The Nikkei was up 2.3 percent at 19,005.83 points by midmorning after climbing as high as 19,047.68, rising above its 200-day moving average for the first time in five days. The Nikkei's 200-day moving average stood at 19,031 as of Thursday market close.

Commodity-related stocks led the rally after oil prices rocketed overnight and other commodity prices soared, with trading houses Mitsubishi Corp soaring 7.2 percent and Mitsui & Co jumping 6.2 percent.

Toho Zinc jumped 9.2 percent and Sumitomo Metal Mining surged 8.2 percent after prices of copper and zinc scored the biggest one-day gains in over two years.

Data on Thursday showed that the U.S. economy grew 3.7 percent in the second quarter - much faster than the previous estimate of 2.3 percent.   Continuación...