3 August 2005, 11:16  Nikkei tops 12,000 on results

Japan's main stock index topped 12,000 points for the first time since April 2004 on Wednesday as company earnings came in strong, while crude oil climbed above $62 a barrel to test record levels on supply worries. Tokyo's benchmark Nikkei average closed 0.35 percent higher at 11,981.80. MSCI's index of non-Japan Asian shares, striking an eight-year high for a fourth straight day, rose 0.2 percent by 0635 GMT. Its technology component jumped 1.7 percent. Spread betters in London were calling the FTSE 100 , CAC 40 , and DAX indexes down between two and 12 points, although shares turning ex-dividend alone account for an 11-points loss in Britain's FTSE 100. Japanese government bonds bounced back from seven straight days of falls on bargain hunting. Major currencies were little changed. "Investors are just concentrating on high techs and companies with solid earnings, the market hasn't been able to shift away from those two themes," said Tatsuyuki Kawasaki, director of equities trading at Kaneyama Securities in Tokyo. Asian stock markets have boomed as funds flow into the region on a rosy corporate outlook and hopes the key U.S. export market would remain robust.

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