Market Report - Asian Stocks Surge Ahead

Japan's industrial output rose for the first time in six months, but overall output is running at levels last seen in 1983 and economists rejected hopes of a quick bounce. Asian stocks jumped as exporters climbed on upbeat data that fuelled hopes for the global economy, while Honda surged after forecasting a small profit for this year. World stocks struck a four-month peak, powered by gains in Asia, as investors took heart from signs of improvement in the U.S. economy, suggesting regional exporters may need to start cranking up production. Japan's Canon reported an 88 percent fall in quarterly profit, hit by slumping demand for copiers and printers, but it raised its annual outlook thanks in part to a weakening yen. Japan's Mitsubishi Estate reported a 61 percent fall in quarterly profit. Japanese precision equipment maker Fujifilm said it planned to cut about 5,000 jobs as part of a restructuring.

Category:

News & Politics

Tags:

• ntd
• ntdtv
• news
• stocks
• asian
• ahead
• japan
• economy
• quarterly
• exporters
• reported
• hopes
• quick
• rejected
• raised
• regional
• peak