Overseas Stocks Rise in Early Trading Despite Tokyo Glitch

(NewsCore) - Japanese shares rose sharply Thursday out of the open, while Australia also saw a jump in early trading.

Tokyo's Nikkei Stock Average moved 0.9 percent higher to 8,884.30, while the Topix also added 0.9 percent in early moves, with banks and automakers among the leading gainers -- although trading in some blue-chip shares was suspended, reportedly due to a technical glitch.

Toyota Motor Corp. rose 2.7 percent after reporting a 7.5 percent gain in January US sales, while Honda Motor Co. advanced three percent on a 9.3 percent US sales increase.

Financials were especially strong, with Nomura Holdings Inc. climbing 6.8 percent after reporting late Wednesday that its quarterly profit grew by one-third. Among other banks, Daiwa Securities Group Inc. rose 3.7 percent, Mitsubishi UFJ Financial Group Inc. added two percent and Mizuho Financial Group Inc. moved 2.6 percent higher.

Meanwhile, the reported technical problems left many key shares untraded, including those of Sony Corp., Hitachi Ltd., and Aeon Co. There was no immediate word on when the problem would be resolved.

Australia saw morning gains following some stronger global manufacturing data, after losing ground for three straight sessions, with the S&P/ASX 200 index advancing 1.2 percent to 4,274.40.

A 1.9 percent jump for the mining sector cut its weekly losses to marginal levels. In the sector, shares of Rio Tinto Ltd. jumped 2.1 percent, and Fortescue Metals Group Ltd. rose 1.8 percent.

Energy-sector companies were also outperforming, with Santos Ltd. shares up 1.4 percent and White Energy Co. rising 1.1 percent.

US stocks rallied Wednesday, breaking a four-session loss streak for the Dow Jones Industrial Average and S&P 500, lifted by Chinese and European data and an expansion in domestic manufacturing.

The Dow Jones Industrial Average ended up 83.55 points, or 0.7 percent, at 12,716.46, scaling back in the final minutes after gaining nearly 152 points. The S&P 500 Index added 11.68 points, or 0.9 percent, to 1,324.09, while the Nasdaq Composite rose 34.43 points, or 1.2 percent, to 2,848.27.