The Associated Press
(AP) — TOKYO - Japan stocks rose for a sixth session Wednesday, cheered by another slew of strong U.S. corporate earnings and brighter prospects for the world's biggest economy.
The benchmark Nikkei 225 stock average added 71.14 points, or 0.7 percent, to 9,723.1, mirroring modest gains throughout Asia. The broader Topix index rose 0.6 percent to 906.58.
Overnight, Caterpillar Inc. and Apple Inc. joined other major companies in issuing improved 2009 profit forecasts that are giving investors more confidence that the global downturn is easing.
That view was reinforced by Federal Reserve Chairman Ben Bernanke, who said the U.S. was set to turn around this year, albeit at a slow rate.
Steel and chemical makers led the day's gains, with JFE Holdings Inc. up 6.1 percent at 3,330 yen and Mitsui Chemicals Inc. advancing 6.9 percent to 311 yen.
Shin-Etsu Chemical Co. added 4.9 percent to 4,740 yen. The Nikkei financial daily reported that the world's biggest maker of silicon wafers is seeking to raise the prices it charges chipmakers.
Among decliners, Mitsubishi Estate Co. lost 1.3 percent to 1,489 yen and Sumitomo Development and Realty Co. slipped 0.9 percent to 1,686 yen.
In currencies, the dollar was trading at 93.54 yen from 93.64 yen late Tuesday. The euro stood at $1.4191 from $1.4217.
