Japan stocks jump in early move, Nikkei increases 0.6%

You might also like

shanghai shares start week with losses 25 june 2018

25/06/2018

European stock markets slide at open 25 june 2018

25/06/2018

TOKYO: Japanese stocks started with gains Tuesday, helped by a weaker yen and a strong U.S. advance, almost the exact opposite situation from Monday’s open. The Nikkei Stock Average NIK, +1.04% improved by 0.6%, with the broader Topix I0000, +1.43% up 0.9%, as the dollar USDJPY, +0.18% traded at ¥119.37, rising from ¥118.83 at the previous Tokyo stock close. Strong gains for the main U.S. indexes, along with healthy earnings results for Goldman Sachs Group Inc. GS, +0.38% and Morgan Stanley MS, +0.57% appeared to boost Japanese financial shares. Mitsubishi UFJ Financial Group Inc. 8306, +3.39% MTU, +0.87% rallied 2.2%, with rivals Mizuho Financial Group Inc. 8411, +1.70% MFG, +0.81% and Sumitomo Mitsui Financial Group Inc. 8316, +2.28% SMFG, -0.12% up 1.3% each, while among some of the smaller names, Orix Corp. 8591, +4.21% added 2.2%, and Credit Saison Co. 8253, +5.59% jumped 5.2%. Among other gainers, NEC Corp. 6701, +1.29% NIPNF, +1.72% rose by 1.3% after a Nikkei news report said the technology major would post an eight-year-high profit for the current fiscal year ending next March. Pharmaceutical player Daiichi Sankyo Co. 4568, +3.18% DSKYF, +0.43% saw its shares climb 2.5% on news the company plans to sell off its stake in India’s Sun Pharmaceutical Industries Ltd. 524715, +0.17% which it acquired in its sale of fellow Indian drug maker, Ranbaxy Laboratories Ltd. IN:500359 And stock in Takata Corp. 7312, +2.24% TKTDY, +1.26% improved by 2.4% as the auto-parts maker, still suffering from a rash of recalls over defective airbags, trimmed its loss for the year to just above 2%. On the downside, Canon Inc. 7751, +0.16% CAJ, -0.56% pulled back 0.7% as a Nikkei report tipped its quarterly operating profit to have fallen “about 15%” from a year earlier. Competitor Nikon Corp. 7731, -1.42% NINOF, -1.96% lost 2%, extending losses from a day earlier on the back of a downgrade to its shares from Société Générale.