Asian stockmarkets are trading higher today on the back of a strong lead from Wall St, in particular the technology sector. The Nikkei is currently up 0.6%, the ASX200 up 1.1% and the Kospi up 0.4%.
The tech sector has helped lift Japanese stocks after Barclays Capital upgraded its rating on Intel. Intel gained 2.3% overnight, thus helping tech stocks gain in Asia. Toshiba and Elpida are also higher on the back of a Nikkei report that the companies were resuming capital spending to boost semiconductor production. Exporters also gained, with Toyota up 1.1% and Canon up 1.2%.
In Sydney, the banks are lifting the index higher with Westpac the best of the bunch up 1.8%. Surprisingly NAB is also up despite a document it released last night saying that it has ammased a $12.8 Bln indirect exposure to the Italian government. Gold stocks were weaker after a sharp fall in the price of gold overnight. NCM down 2.6% and LGL down 2.2%.
In Seoul, technology stocks are higher, Samsung and Hynix Semiconductor both up over 0.6%.
