Japan Stocks Rise On Back Of U.S. Gains

MarketWatch Pulse

Japanese stocks climbed early Tuesday, with the Nikkei Average up 0.7% about half an hour into trading, though off its earlier highs, while the Topix rose 0.9%. The market drew support from Wall Street's overnight advance, as well as from a weaker yen, with the dollar changing hands for �120.05, up from �119.77 a day earlier. Between the yen's loss and a 1.1% advance for the Nasdaq, Tokyo-listed techs were broadly higher, with Casio Computer Co. up 3.3%, Panasonic Corp. up 1.4%, and Sony Corp. up 1.5% after a 1.2% improvement for its U.S.-listed shares. Smaller name Bandai Namco Holdings Inc. rallied 3% after saying it would license rights to some of its world-famous classic games such as Pac-Man and Galaxian. Among the industrials, Fujifilm Holdings Corp. rose 3.2% on the back of its deal to buy U.S. company Cellular Dynamics International Inc. for about $307 million in cash. On the downside, Uniqlo operator Fast Retailing Co. fell 0.6%, and ANA Holdings Inc. lost 0.5%, profiting naught from its incoming president telling the Nikkei that the airline plans to focus "on world destinations where no Japanese airlines currently go," including South America and Africa.

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