Yen Trading Leads Advance in Japan Stocks

Hiruki Nakamura
22 Jul, 2014
New York City

Stocks in Tokyo advanced after a 3-day weekend and the yen trading dominated market sentiment. Exporters and resource stocks led the gainers. Rising tensions between Russia and European Union. Stock exchanges in Japan trimmed ask and bid spread on 80 stocks from today.

[R]4:30 PM Tokyo – Stocks in Tokyo advanced after a 3-day weekend and the yen trading dominated market sentiment. Exporters and resource stocks led the gainers. Rising tensions between Russia and European Union. Stock exchanges in Japan trimmed ask and bid spread on 80 stocks from today.[/R]

Stocks in Tokyo advanced after a three-day weekend and exporters and resource stocks led the market gain.

The Nikkei 225 Stock Average jumped 127.57 or 0.8% to 15,343.28 and the broader Topix index gained 9.98 to 1,273.27.

The yen closed at 101.55 against one U.S. dollar.

Stocks in Review

Aeon Co Ltd fell 0.4% to 1,152.50 yen after the convenience and department stores operator reported net sales in the first-quarter ending in May surged 17.2% to 1.71 trillion yen from 1.46 trillion yen a year ago.

Net income in the quarter plunged 90.1% to 1.31 billion yen compared to 13.17 billion yen and diluted earnings per share plummeted to 1.43 yen from 15.44 yen a year earlier.

Chiba Bank Ltd jumped 3.8% to 760 yen after the banking services provider announced 15 million shares or 10 billion yen.

Lasertec Corporation gained 0.9% to 994 yen after the flat panel display and laser microscopes maker forecasted revenue for the year ending in June to jump 13.61 billion yen and net profit to increase 1.97 billion yen from a year ago.

Monex Group, Inc slid 0.3% to 341 yen after the online securities service provider said revenue in the first-quarter ending in June declined 36% to 10.80 billion yen from 16.87 billion yen a year ago period.

Net income in the quarter tumbled 90.3% to 500 million yen compared to 5.15 billion yen a year earlier.

NEXT Co Ltd slipped 1.9% to 764 yen after the real estate developer said revenues in June climbed 15.9% to 13.2 billion yen compared to 11.4 billion yen a year earlier.

Tokyo Steel Manufacturing Co., Ltd surged 12.1% to 576 yen after the steel products maker stated net sales in the first-quarter ending in June soared 49.3% to 44.33 billion from 29.69 billion yen a year ago.

Net income in the quarter surged more than three-fold to 3.85 billion yen compared to 865 million yen and earnings per share jumped to 25.82 yen from 5.81 yen a year earlier.