Nikkei 225 Up 0.35%

The Nikkei 225 Thursday stayed in recent form, edging up 0.35% as traders eyed overnight Wall Street gains, a generally good economic outlook and the pending earnings season.

In other news, troubled Kobe Steel (KBSTY, 5406:Tokyo), said quality falsification may spread beyond copper and aluminum. Also, industrial giant Toshiba (TOSYY, 6502:Tokyo) was removed from the Tokyo Stock Exchange’s watch list, after addressing book-keeping and corporate governance issues.

Japan’s wholesale prices rose 3.0% YOY in September, but analysts do not expect the prices to show up at retail, as Japan businesses have shown a preference to improve efficiencies or squeeze margins rather than raise prices.

The benchmark Nikkei 225 rose 73.45 to 20,954.72, as gaining issues outnumbered losers 113 to 106.

Leading the upside were Chugai Pharmaceuticals (CHGCY, 4519:Tokyo), up 6.2%; followed by heavy equipment maker Komatsu (KMTUY, 6301:Tokyo), up 5.1%; and then internet-finance conglomerate SoftBank (SFTBY, 9984:Tokyo), up 3.6%.

On the downside were Mitsui Mining (MMSMY, 5706:Tokyo), off 4.8%; and then drug-maker Shionogi (SGIOF, 4507:Tokyo), off 4.4%.

Leave a Comment