Nikkei and Asian Markets Decline

Hiruki Nakamura
14 Apr, 2014
New York City

Nikkei index in Tokyo extended losses as markets across Asia declined. The yen gained and exporters and auto makers extended weekly losses. Aderans Co Ltd gained after the retailer reported earnings and sales soared.

[R]4:30 PM Tokyo – Nikkei index in Tokyo extended losses as markets across Asia declined. The yen gained and exporters and auto makers extended weekly losses. Aderans Co Ltd gained after the retailer reported earnings and sales soared.[/R]

Market indexes in Japan extended weekly losses as stocks in Asia declined on a selloff in tech and commodities sector.

The Nikkei 225 Stock Average fell 49.89 or 0.4% to 13,910.16 and the Topix index slid 1.33 to 1,132.76.

The yen strengthened to 101.54 against the U.S. dollar.

Stocks in Review

Toyota Motor Corp climbed 96 yen to 5,410 yen. Honda Motor Co slid 2 yen to 3,443 yen. Nissan Motor Co Ltd slipped 0.9% to 896 yen.

Sony fell 6 yen to 1,870 yen.

Softbank Corp decreased 120 yen to 6,780 yen. Fast Retailing Co Ltd declined 1,025 yen or 3% to 32,795 yen.

Aderans Co Ltd jumped 3.2% to 1,128 yen after the retailer reported net sales in the year ending in February soared 32.6% to 67.75 billion yen from 51.09 billion yen a year ago.

Net income in the year surged 29.7% to 4.28 billion yen compared to 3.30 billion yen and earnings per share increased to 116.32 yen from 89.69 yen a year earlier.

Seibu Holdings, Inc., the Japan-based hotel chain priced a 44.5 billion yen initial public offering at the bottom of its planned range.

Yondoshi Holdings Inc fell 0.9% to 1,574 yen after the Japan-based apparel retailer said revenue in the year ending in February rose 1.8% to 49 billion yen from 48.2 billion yen a year ago period.

Net income in the year climbed 14.3% to 3.18 billion yen compared to 2.78 billion yen and earnings per share jumped to 116.40 yen from 101.64 yen a year earlier.