Japanese shares rose for the third straight session Thursday, lifted by further gains on Wall Street and a continuing slide in oil prices. The benchmark Nikkei 225 index increased 290.38 points, or 2.18 percent, to close at 13,603.31. "The index was supported by external factors such as a rise in the U.S. market and falling oil prices," said Yutaka Miura, senior strategist at Shinko Securities Co. Ltd. Investors continued to buy banking stocks amid easing worries over the health of the U.S. financial sector, Miura said, while export-linked stocks ended higher, helped by a softening yen. A weak yen makes Japanese goods price competitive abroad and boosts the value of repatriated profits by local exporters. But Miura warned the Nikkei's winning streak might not last long. "Investors cannot find domestic leads to buy stocks. Right now the index's performance depends on moves in U.S. shares and oil prices," he said. Japan's top automaker, Toyota Motor Corp., jumped 5.13 percent to 5,120 yen. Toyota on Wednesday beat General Motors Corp. by selling more vehicles globally during the first six months of the year. Toyota sold 4.8 million vehicles during the period. GM sold 4.5 million. Continued... |