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Japan's Nikkei jumps on weaker yen

Published on NewsOK Modified: February 12, 2013 at 3:11 am •  Published: February 12, 2013

Markets, meanwhile, were unfazed by a nuclear test conducted by North Korea on Tuesday. Pyongyang said it successfully detonated a miniaturized nuclear device at a northeastern test site.

In Australia, the benchmark S&P/ASX 200 finished nearly unchanged at 4,959, with investors remaining tentative ahead of earnings reports due out this week from major companies including Rio Tinto Ltd. and Commonwealth Bank of Australia.

"It's a good chance to see if the rally we've had is actually justified," said Evan Lucas of IG Markets in Melbourne.

Among individual stocks, Nissan Motor Co. fell 3.8 percent in Tokyo. The company on Friday reported a 35 percent plunge in October-December profit as global sales languished.

Benchmark oil for March delivery was down 24 cents to $96.79 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.31 to finish at $97.03 a barrel in New York on Monday as the euro strengthened against the dollar.

In currencies, the dollar rose to 94.03 yen from 93.70 yen late Monday in New York. The euro fell to $1.3379 from $1.3389.

The euro has strengthened recently, raising concern it will hurt exports from the 17 euro countries. French President Francois Hollande has suggested the eurozone needs to manage its exchange rate. ECB President Mario Draghi indicated the bank does not seek any particular exchange rate, which is set by markets, but is monitoring the stronger euro's effect on inflation.


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