Tuesday, October 22, 2013
Nikkei Slightly Higher On Dollar's Rise
TOKYO (NQN)--Tokyo stocks are moving slightly higher in early afternoon trade Tuesday, with the Nikkei Stock Average rising about 40 points to hover around the lower-14,700 line.
The dollar continues to rise against the yen, which is lending support to the stock market.
Construction stocks are generally higher across the board. The climb in Nikkei Stock Average futures is helping lift SoftBank Corp. (9984) in arbitrage trade. In contrast, maritime shippers and paper firms are lower. Major property stocks are also lower after rising the previous day.