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Nikkei gains on hopes for more robust U.S. earnings

Published 01/18/2011, 07:09 PM
Updated 01/18/2011, 07:12 PM

TOKYO, Jan 19 (Reuters) - Japan's Nikkei average rose on Wednesday, inching towards eight-month highs hit last week, buoyed by robust earnings for Apple Inc whose stock climbed in extended trade and after target price hikes for Google lifted Wall Street.

Shares of Apple added almost 4 percent at one stage in extended trading after the company reported better-than-expected revenue, fuelled by blockbuster holiday sales of the iPhone and iPad.

The benchmark Nikkei was up 0.5 percent or 48.30 points at 10,567.28 in early trade.

Resistance now looms at 10,620.57, an eight-month peak hit last week, market players said. If that level is breached, the next target investors are eyeing is 10,638.23, a high hit in May last year.

The broader Topix index added 0.4 percent to 935.65. (Reporting by Antoni Slodkowski; Editing by Chris Gallagher)

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