Nikkei 225 Up 0.38%; 11th-Straight Trading Day Of Gains

The Nikkei 225 Tuesday rose 0.38% on overnight Wall Street cues and an earnings season seen as positive, said analysts. The index gained despite a increase in the exchange rate of the yen vs. the US dollar, seen as a negative in export-oriented Japan.

In other news, If Prime Minister Shinzo Abe on Sunday prevails in the Lower House election it will raise odds that Bank of Japan Gov. Haruhiko Kuroda, seen as growth-oriented, will serve a second term, a former economy minister told Japan Times.

Also, confidence among Japanese manufacturers rebounded in October to match a peak last seen in mid-2007, a Reuters poll found.

The benchmark Nikkei 225 rose 80.56 to 21,336.12, as gaining issues outnumbered losers 139 to 75.

Leading the upside were Sumitomo Metal (STMNF, 5713:Tokyo), up 4.1%; followed by Kobe Steel (KBSTY, 5406:Tokyo), up 3.1%; and then silicon wafer-naker Sumco (SUMCF, 3436:Tokyo), up 2.9%.

On the downside were entertainment-concern Toho (TKCOF, 9602:Tokyo), off 2.2%; and then temp-agency Recruit (RCRRF, 6098:Tokyo), off 2.1%.

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