TOKYO: Japanese stocks saw their early Monday gains melt away, as a rising yen helped to limit the upside, and a couple of disappointing earnings reports dragged on the auto sector. The Nikkei Stock Average NIK, -0.36% was down 0.5% about 20 minutes into trade, with the broader Topix down 0.4%. The dollar USDJPY, +0.05% was buying ¥118.78, solidly lower than the ¥119.62 recorded at the same time on Friday. The big tech and industrial blue chips were mixed: On the downside, Nintendo Co. 7974, -1.47% NTDOF, -0.74% lost 1.3%, Mitsubishi Electric Corp. 6503, -0.86% MIELF, +2.41% fell 1.1%, and Sony Corp. 6758, -1.18% SNE, +2.02% retreated by 1.7%, failing to get a boost from a Nikkei news report tipping an even stronger operating profit than predicted in Sony’s latest earnings-forecast upgrade. On the other hand, Panasonic Corp. 6752, +0.42% PCRFF, -0.80% added 1.1%, Nikon Corp. 7731, +1.25% NINOF, -1.96% improved by 2.2%, and shares of NEC Corp. 6701, +4.93% NIPNF, +8.47% rallied 3.5% after a separate Nikkei news item said the Japanese company would team with Hon Hai Precision Industry Co. 2317, +0.11% HNHPF, -1.19% on a cloud-computing venture in Asia. Mitsubishi Motors Corp. 7211, -4.40% MMTOF, -0.88% and Mazda Motor Corp. 7261, -3.45% MZDAF, +2.99% were both lower after their respective earnings results, with their stock down 4.1% and 3%, respectively. This appeared to weigh on the rest of the sector, which was trading broadly weaker, as Toyota Motor Corp. 7203, -1.07% TM, +0.13% gave up 1%, and Honda Motor Co. 7267, -0.75% HMC, +0.72% and Nissan Motor Co. 7201, +0.08% NSANY, -0.19% dropped 0.5% each. In the retail space, Lawson Inc. 2651, +3.04% rallied 2.2% on reported plans to open more of its convenience stores at local railway stations.
shanghai shares start week with losses 25 june 2018
Hong Kong, (UrduPoint / Pakistan Point News - 25th Jun, 2018 ) :Hong Kong and mainland Chinese stocks fell on...
