Japanese shares up 1.06 percent in morning

TOKYO, Aug 27, 2007 (AFP) – Japanese share prices rose 1.06 percent in morning trade Monday with sentiment boosted by solid gains on Wall Street last week as fears eased over a credit crunch, dealers said. The Tokyo Stock Exchange’s benchmark Nikkei-225 index of leading shares was up 172.92 points at 16,421.89 at the lunch break.

The broader Topix index of all first-section shares was up 17.15 points or 1.08 percent at 1,603.00. On Friday, the Dow Jones Industrial Average gained sharply after US data showed a surprise rebound in new home sales, shaking off some lingering fears about the fragile housing and credit markets.