Japanese machine tool orders jump; Nikkei recovers much ground


Japanese machine tool orders, a leading indicator of capex, surged 28% on year in December after climbing 15.4% in November.

Domestic demand rose 41.6% and foreign bookings 21.9%.

For 2013, machine tool orders dropped 7.9%, due to a 14.4% fall in exports, although domestic bookings rose 6.6%.

The Nikkei gained 2.5% following a slump of 3.1% yesterday, with the mood brightened by a better-than-expected U.S. retail sales report.

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