Nikkei hits 5-1/2-year high on firm economic data

[oioioi]

TOKYO, Feb 6 (Reuters) - The Nikkei share average rose 0.53 percent to a 5-1/2-year high on Monday as investors, encouraged by positive economic data, bought shares in Fuji Heavy Industries Ltd. (7270.T: Quote, Profile, Research) and other companies with bright profit prospects.

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Yoshinori Nagano, chief strategist at Daiwa Asset Management, added that the latest slew of corporate earnings results were upbeat enough to support the stock market going forward.

On the other hand, Nagano said the situation regarding Iran's nuclear programme is troubling as Japan imports about 15 percent of its oil from Iran. "If the situation gets worse, investors may sell Japanese stocks," he said.

Fuji Heavy, the best performer among the Nikkei 225 components, jumped 7.4 percent to 639 yen after the maker of Subaru cars posted an 84 percent jump in quarterly operating profit and lifted its full-year forecast.

http://yahoo.reuters.com/stocks/QuoteCompanyNewsArticle.aspx?storyID=urn:newsml:reuters.com:20060206:MTFH93870_2006-02-06_06-43-54_T349498&symbol=7270.T

hmmmmm......

[Vogon_Glory]

1. Unlike The Feckless Republican-Controlled US, The Japanese

Unlike the feckless Republican-controlled US, I believe that the Japanese have been wisely using the time between the previous oil price collapse and the present to institute energy-efficient technology instead of ignoring the consequences of standing pat.