TOKYO (AFP) - Shares in Tokyo rebound or rebound on Monday with the Nikkei index closed 0.65 percent higher, after Wall Street rose for the first time after four days sold off.
The Nikkei 225 index at the Tokyo Stock Exchange, which fell for the second consecutive day on Friday, today rose 125.77 points to 19411.40.
The Topix index of all the main board stocks rose 0.32 percent, or 4.99 points, to end at 1557.77.
Rebound in Tokyo occurred as the dollar rose against the yen, an added value for Japanese exporters, but analysts said the Topix index opened lower could be a sign of a temporary decline in the market.
On Monday, new data showed Japan's factory output fell a worse-than-expected 3.4 percent in February, adding to the gloom of the world's third largest economy, while struggling to cope with the impact of the sales tax increase last year.
"The numbers of industrial production has a negative impact, while concerns about geopolitical risk remains with the uncertainty in the Middle East," Soichiro Monji, chief strategist at Daiwa SB Investments, based in Tokyo, told Bloomberg News.
"But investors to buy on the way down because now do not have the risk of Japanese stocks."
Foreign investors have entered the Japanese market as companies are expected to report annual earnings unusually large, when the country's public pension funds - the largest in the world - shifting more to the bond portfolio of stocks.
In stock trading, the issuer heavyweight Fast Retailing, operator of the Uniqlo clothing chain, rose 2.66 percent to 47455.0 yen.
Kikkoman soy sauce giant jumped 5.23 percent to 3920.0 yen after the Nikkei business daily said leading operating profit for the full year will come according to previously estimated.
Factory robotics maker Fanuc rose 1.12 percent to 26475.0 yen, Toyota fell 0.64 percent to 8426.0 yen, and drinks giant Asahi down 1.02 percent to 3879.0 yen.
Leading furniture maker Otsuka Kagu fell 6.19 percent to 1469.0 yen. On Friday, bitter family feud in the company brought a dramatic change after its founder lost his battle to oust her as president of the voting shareholders.
It follows weeks of speculation about who would win in a battle over the future of the company in difficulty.
In the forex market, the dollar climbed to 119.19 yen, from 119.14 yen in New York on Friday afternoon.
On Wall Street on Friday, the Dow added 0.19 percent, the S & P 500 rose 0.24 percent and the Nasdaq gained 0.57 percent, according to AFP.
Comments
Post a Comment