Nikkei in Best 6-Month Gains Since 1972

Hiruki Nakamura
29 Mar, 2013
New York City

The Nikkei index closed higher second quarter in a row propelling six-month gains to the best since 1972. Industrial output declined 0.1% in February and core consumer prices declined 0.3%, tenth monthly fall in a row.

[R]5:30 PM Tokyo – The Nikkei index closed higher second quarter in a row propelling six-month gains to the best since 1972. Industrial output declined 0.1% in February and core consumer prices declined 0.3%, tenth monthly fall in a row.[/R]

Financial markets in Tokyo advanced and completed the month and the quarter that propelled the market action into record books.

The Nikkei index closed up 19% for the first quarter after rising 17% in the final quarters and extended the gains in the six-months to the best in the record books since two quarterly performances in 1972, according to the data available on Bloomberg and Nikkei.

The yen decreased against the dollar and closed at 94.08.

The Nikkei 225 Stock Average gained 61.95 or 0.5% to 12,397.91 and the broader Topix Index edged lowered 2.07 to 1,034.71.

For the week, Nikkei 225 rose 0.5% and for the month end Nikkei 225 surged 7.3%

Industrial output decreased 0.1% in February from January and plunged 11% from a year ago according to the data released by the Trade Ministry.

Core consumer prices excluding fresh food decreased 0.3%, a decline for the tenth month in a row.

Stocks in Review

Toyota Motor Corp increased 35 yen to 4,860 yen and Honda Motor Co. dropped 45 yen to 3,555 yen and Nissan Motor Co Ltd slid 2 yen to 905 yen. Yamaha Motor Co Ltd jumped 24 yen to 1,290 yen.

Mitsubishi Motors Corp closed unchanged at 98 yen after the automaker said its lithium-ion battery in hybrid Outlander overheated last week. The battery maker GS Yuasa Corp plunged 11%.

Nippon Steel down 3 yen to 235 yen and JFE Holdings Inc slipped 38 yen to 1,767 yen.

Sony gained 17 yen to 1,642. Canon Inc declined 50 yen to 3,400 yen and Nikon advanced 26 yen to 2,231 yen. TDK Corp slipped 15 yen to 3,270 yen. NEC closed down 2% to 245 yen.

Nintendo Co. Ltd dropped 140 yen to 10,020 yen.

Fanuc Corp. climbed 100 yen to 14,490 yen and Komatsu Ltd rose 16 yen to 2,249 yen. Hitachi Construction Machinery Co added 18 yen to 2,028 yen.

Softbank Corp increased 20 yen to 4,340 yen.

FamilyMart Co Ltd, the convenience chain operator jumped 55 yen to 4,350 yen and Lawson rose 30 yen to 7,250 yen. Ito En Ltd slumped 29 yen to 2,241 yen.

Seven & I Holdings Co closed unchanged at 3,115 yen. Fast Retailing Co. climbed 720 yen to 30,650 yen and J. Front Retailing Co. Ltd slid 3 yen to 729 yen.

Mitsubishi UFJ Financial Group fell 6 yen to 558 yen and Sumitomo Mitsui Financial Group declined 65 yen to 3,775 yen. Dai-Ichi Life up 0.9% to 126,500 yen. Nomura Holdings, Inc slid 3 yen to 577 yen.