TOKYO: Japan stocks went from strength to strength early Thursday, with the Nikkei Average NIK, +0.31% up another 0.4% after a 1.1% advance the previous day.
The broader Topix rose 0.5%. Sony Corp. 6758, -0.08% SNE, +4.76% was in focus after it again raised its profit and revenue forecasts for the fiscal year ended in March, helping send its shares up 2.1%. Sony had announced the new forecasts late Wednesday, and its U.S.-listed shares surged 4.8% during the regular Wall Street session. Other tech majors, as well as the industrial exporters, got a kick out of a modestly weaker yen, with the dollar USDJPY, +0.01% buying ¥119.98, up from ¥119.70 one day earlier. Among the notable gainers were Toshiba Corp. 6502, +2.61% TOSYY, -0.04% (up 1.4%), Nikon Corp. 7731, +1.67% NINOF, -1.96% (up 3.2%), Sharp Corp. 6753, +2.65% SHCAF, +1.38% (up 2.3%), Nissan Motor Co. 7201, +1.09% NSANY, -0.88% (up 1.3%) and Advantest Corp. 6857, +1.52% ADTTF, -23.34% (up 2.4%). A solid gain for Brent North Sea crude-oil futures, despite a decline for U.S.-traded Nymex crude, boosted the energy names, with Inpex Corp. 1605, +2.90% IPXHY, -0.91% up 3.3%, Showa Shell Sekiyu K.K. 5002, +1.57% up 1.9% and Japan Petroleum Exploration Co. 1662, +0.91% JPTXF, -21.98% up 1.5%. Among the financials, Nomura Holdings Inc. 8604, +3.51% NRSCF, +3.72% NMR, +5.05% and Daiwa Securities Group Inc. 8601, +3.14% DSECF, -2.54% extended their recent gains by climbing 3.8% and 2.4%, respectively, even as many of the major banks traded lower amid apparant profit taking.
