LOS ANGELES: Japanese stocks opened down and moved lower in early Tuesday trading, with the Nikkei Stock Average NIK, -0.07% down 0.5% to cancel out an advance by the same margin the previous day, while the broader Topix lost 0.3%. A breakdown in talks for a new Greek rescue package and a slightly firmer yen (with the dollar USDJPY, +0.09% buying ¥118.37 vs. ¥118.59 at the Monday Tokyo stock close) helped weigh on the forex-sensitive blue chips, including Toyota Motor Corp. 7203, -0.37% TM, +0.51% Hitachi Ltd. 6501, +1.01% HTHIF, +0.76% and Fuji Heavy Industries Ltd. 7270, +0.69% FUJHF, -0.92% (all down 1% each), Sony Corp. 6758, -0.70% SNE, +0.70% (down 0.5%), and Toshiba Corp. 6502, -0.13% TOSYY, -1.55% (down 0.6%). On the other hand, Panasonic Corp. 6752, +1.67% PCRFF, +3.07% added 1%, Nissan Motor Co. 7201, +2.66% NSANY, +1.79% rose 1.2%, and Sharp Corp. 6753, +0.81% SHCAF, -1.07% improved by 0.8%. Suntory Beverage & Food Ltd. 2587, +1.19% tacked on 1% to its share price after posting a 20% increase in annual sales, with the Nikkei reporting that the result had propelled it above top rival Kirin Holdings Co. 2503, -0.29% KNBWY, -4.29% to become the biggest food-and-beverage company in Japan. Shares of Kirin were down 0.3%.
Pakistan to get $3b loan from Islamic Trade Financing Corporation
ISLAMABAD: Islamic Trade Financing Corporation (ITFC) to provide Pakistan with a $3 billion loan, according to an official statement released...
