Friday, January 10, 2014

Tokyo stocks end slightly higher

Tokyo stocks rebounded from morning' s losses and ended slightly higher on Friday ahead of a U.S. jobs report due out later in the day.The 225-issue Nikkei Stock Average inched up 31.73 points, or 0. 20 percent, from Thursday at 15,912.06 on an upbeat earnings report by fashion retailer Fast Retailing.The broader Topix index of all First Section issues on the Tokyo Stock Exchange went up 1.73 points, or 0.13 percent, to 1, 298.48.Nikkei ended the morning session to a three-week intraday low, down by 29.07 points, or 0.18 percent, from Thursday toAntique bath fixtures 15,851.26.Brokers here said that the main contributor to Nikkei's advance was a surge by Fast Retailing, which jumped 1,300 yen, or 3.3 percent, to 41,100 yen after it reported Wednesday record-high sales and net profit for the September to November quarter.They added that market players are still waiting for U.S. jobless data due out later the day as they wanted to find hints as to how fast the Federal Reserve (Fed) may unwind its quantitative easing policy.Analysts said that if the U.S. data is more upbeat than expected, it will be good news for Tokyo stocks market, while if the report is weaker than expected, it, however, is unlikely to be negative for the market as investors would found the Fed may slow down the pace of ending its quantitative policy.The U.S. dollar stayed firmly at the upper 104 yen level on Friday, while the euro changed hand in the upper 142 yen range.On Friday, advancing issues surpassed declining ones 842 to 793 on the First Section, while 143 closed unchanged.By sectors, winners included bank, nonferrous metal and rubber shares, while decliners were led by mining, real estate and utility shares. 

Matsuya gained 19 yen, or 1.6 percent, to 1,200 yen after the department store operator nearly quadrupled its net profit for the March to November period.Toray Industries was up 1 yen, or 0.1 percent, to 702 yen following media reports that Japan's major business lobby Keidanren has decided to appoint the fabric maker's chairman Sadayuki Sakakibara as its next chairman.By contrast, Nippon Yusen drew selling following media reports that the Japan Fair Trade Commission will fine the shipping firm, together with three other Japanese and European companies, including Kawasaki Kisen Kaisha, for allegedly setting up an illegal cartel to raise fares for car carriers.Nippon Yusen shed 3 yen, or 0.9 percent,BMW ICOM to 322 yen while Kawasaki Kisen erased early loss to end the day flat at 260 yen.Mitsubishi Materials lost 6 yen,Online shopping for Sanitary Napkins from a great selection of Health & Personal Care; Feminine Care & more at everyday low prices.Tampon or 1.6 percent, to 370 yen following a deadly explosion at its chemical plant in Yokkaichi, western Japan.Trading volume on the main section came to 3,264.71 million shares, up from Thursday's 3,020.58 million shares.The turnover was about 2,933.7 billion yen (about 27.96 billion U.S. dollars).

No comments:

Post a Comment