News article

Greek hopes boost Nikkei

Greek hopes boost Nikkei
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Hopes that Greece will survive its debt crisis saw the Nikkei 225 average edge higher in stock market trading today (June 28th), with the Tokyo index rising 0.7 per cent to 9,648.98.

Investors also appeared to back a rapid post-earthquake recovery in Japan as shares in department stores and steel manufacturers posted gains, Reuters reports.

However, experts suggested the Nikkei is unlikely to exceed its recent peak of about 9,700 before the situation in Athens is fully resolved.

"Unless uncertainty over Greece clears, share prices are unlikely to rise further in the near term," supervisor at Okasan Securities Hideyuki Ishiguro told the news agency.

He added that the benchmark index "could test higher in late July, by which time we will have a clearer picture [of the eurozone]".

On Monday, the Nikkei fell 1.04 per cent on the back of concerns over Greece's ongoing debt problems and the potential impact on the single currency.

Posted by Chris WeaverADNFCR-1681-ID-800602147-ADNFCR