By Michael Kitchen
LOS ANGELES (MarketWatch) -- Japanese stocks pulled sharply higher in early Wednesday action, with techs gaining after earnings results from U.S. peer Intel Corp. (INTC 21.01, +0.44, +2.14%) exceeded estimates. In the early minutes, the benchmark Nikkei Stock Average was up 2.3% at 9,753.3, while the broader Topix gained 1.6% to 868.4. Chip makers were among the top advancers, with Elpida Memory Inc. (JP:6665 1,409, +4.00, +0.28%) (ELPDF 17.45, -0.70, -3.86%) rallying 3.4%, while Renesas Electronics Corp. (JP:6723 845.00, +21.00, +2.55%) (RNECY 4.65, +0.08, +1.75%) rose 3.2%. Other tech-related names on the rise included conglomerate Sony Corp. (JP:6758 2,546, +14.00, +0.55%) (SNE 29.23, +0.72, +2.53%) , up 2.5%, and Canon Inc. (JP:7751 3,460, +10.00, +0.29%) (CAJ 39.58, +0.42, +1.07%) , higher by 3.2%. Among other gainers, shipping major Mitsui O.S.K. Lines Ltd. (JP:9104 582.00, -7.00, -1.19%) (MSLOF 6.50, -0.32, -4.63%) added 3.6% to its value after an upgrade by Bank of America Merrill Lynch. |
