07 Sep '11, 2am

Asian markets open higher

Asian markets open higher

TOKYO: Asian markets open higher in early trade on Wednesday despite an overnight fall on Wall Street amid worries over the eurozone's debt crisis. The Nikkei 225 index at the Tokyo Stock Exchange, which ended Tuesday at its lowest level since April 2009, opened up 1.54 per cent and extended the gain to 1.70 per cent or 146.09 points to 8,736.66 in the first 20 minutes of trade. Exporters may receive a temporary lift from a weaker yen on Wednesday after many of them suffered heavy selloffs in recent days, Takuya Yamada, senior portfolio manager at ITC Investment Partners, told Dow Jones Newswires. Major exporters such as Sony, Toshiba and Toyota Motor hit 2011 lows on Tuesday. But Yamada added: "This yen-induced buy-back won't last, as the bigger issue surrounding the European debt crisis looms in the background." Australian stocks jumped 1.53 per cent at the open on Wedne...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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