Nikkei at 2-Month High, Fifth Monthly Decline in Exports

Nigel Thomas
21 Nov, 2012
New York City

Stock in Japan traded higher after the yen closed at a 7-month low. Japan reported its fourth monthly trade deficit in a row and exports fell for the fifth month on weak global economic conditions and a diplomatic dispute with China.

[R]7:00 PM Tokyo – Stock in Japan traded higher after the yen closed at a 7-month low. Japan reported its fourth monthly trade deficit in a row and exports fell for the fifth month on weak global economic conditions and a diplomatic dispute with China.[/R]

Nikkei index and stocks in Tokyo traded higher after the yen dropped a 7-month low but exporters were lifted higher.

Japan reported its fourth monthly trade deficit in a row after shipments declined for the fifth month in a row.

Exports declined 2.3% to 53.5 trillion yen or $653 billion from the year ago month in October. Shipments to China, the largest market for Japan, declined 11.6%, exports to European Union decreased 20.1% and to the U.S. increased 3.1%.

Trade deficit in the month rose to 549 billion yen.

The Nikkei 225 Stock Average advanced 79.88 or 0.9% to 9,222.52 and the broader Topix Index gained 4.97 to 767.01.

The yen weakened to a 7-month low to 81.97 and managed to close at 81.88 against one dollar.

Stocks in Review

Toyota Motor Corp. jumped 75 yen to 3,435 yen and Honda Motor Co. climbed 82 yen to 2,657 yen and Nissan Motor Co Ltd increased 16 yen to 766 yen. Mazda Motor Corp surged 7 yen or 5.9% to 126 yen.

Isuzu Motors Ltd gained 1.9% to 476 yen

Nippon Steel added 3 yen to 187 yen and JFE Holdings Inc advanced 25 yen to 1,238 yen. Tokyo Steel Manufacturing soared 22 yen or 7.7% to 309 yen.

Fujikura Ltd up 1.3% to 230 yen and TDK gained 30 yen to 3,115 yen. Murata Manufacturing Co climbed 155 yen to 4,490 yen and Meiko Electronics Co Ltd surged 8.5% or 610 yen.

Shimano Inc slumped 10 yen to 5,290 yen.

Oki Electric Industry down 1.3% to 74 yen, Ricoh Co Ltd increased 4 yen to 749 yen, Sony Corp added 3 yen to 819 and Seiko Epson Corp slipped 4 yen to 464 yen. Canon Inc jumped 27 yen to 2,820 yen and Nikon increased 23 yen to 2,096 yen.

Olympus Corp. gained 0.4% to 1,378 yen and Nintendo Co. Ltd declined 140 yen to 10,150 yen, Fujitsu up 3 yen to 301 yen and Pioneer Corp. grew 4 yen to 189 yen. Sharp Corp slipped 8 yen to 164 yen. Panasonic Corp lowered 3 yen at 404 yen.

Fanuc Corp. increased 130 yen to 13,830 yen and Komatsu Ltd climbed 31 yen to 1,823 yen. Hitachi Construction Machinery Co advanced 18 yen to 1,417 yen.

Sumitomo Heavy lowered 0.3% to 342 yen.

FamilyMart Co Ltd, the convenience chain operator jumped 75 yen to 3,550 yen and Lawson dropped 20 yen to 5,480 yen. Ito En Ltd declined 16 yen to 1,458 yen.

Seven & I Holdings Co slid 2 yen to 2,346 yen.

Yamada Denki dropped 103 yen to 2,972 yen. Nitori Holdings Co jumped 50 yen to 6,020 yen, apparel retailer Shimamura increased 100 yen to 8,230 yen and Sagami Co closed unchanged at 119 yen.

Fast Retailing Co. climbed 140 yen to 17,620 yen and J. Front Retailing Co. Ltd gained 6 yen to 392 yen.

Inpex Corp closed unchanged at 456,500 yen, Japan Petroleum Exploration Co. slipped 5 yen to 2,943 yen. Tokyo Electric Power Co, Inc. added 2 yen to 130 yen.

Mitsubishi UFJ Financial Group up 2 yen to 371 yen and Sumitomo Mitsui Financial Group increased 14 yen to 2,576 yen. Nomura Holdings, Inc added 1 yen to 322 yen.

Japan Airlines Co Ltd slipped 10 yen to 3,600 yen and All Nippon Airways up 1 yen to 176 yen.

Mitsui O.S.K. Lines, Ltd gained 2 yen to 206 yen and Kawasaki Kisen Kaisha, Ltd added 1 yen to 106 yen and Nippon Yusen K.K. increased 4 yen to 167 yen.