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Article: NATURAL RESOURCES STOCKS IN JAPAN UP ON SURGING COMMODITY PRICES.
- Article from:
- AsiaPulse News
- Article date:
- October 8, 2009
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TOKYO, Oct 8 Asia Pulse - Bolstered by high-flying commodities prices, natural resource shares in such sectors as steel and nonferrous metals are picking up steam.
A widespread belief that low U.S. interest rates will hold the dollar down for the near term is spurring a influx of investor money into the commodities markets, pushing up prices of crude oil, copper and nickel. In turn, this is feeding expectations for earnings growth by firms associated with natural resource products.
Sumitomo Metal Mining Co.'s (TSE:5713) share price climbed 5 per cent on the day Wednesday after gold futures prices in New York set a new record high. Meanwhile, steel ...