Nikkei Jumps 7.1% in 2014, Yen at 7-year Low

Hiruki Nakamura
30 Dec, 2014
New York City

Market indexes in Japan closed higher for the third year in a row. Nikkei 225 gained 7.1% and Topix index added 8.1% in 2014. The yen remained weak as the Bank of Japan targeted higher inflation and drove the currency down.

[R]4:30 PM Tokyo – Market indexes in Japan closed higher for the third year in a row. Nikkei 225 gained 7.1% and Topix index added 8.1% in 2014. The yen remained weak as the Bank of Japan targeted higher inflation and drove the currency down.[/R]

Stocks in Tokyo closed down on the last day of trading but two reference market indexes closed higher for the third year in a row.

Topix declined 1.2% and for the year rose 8.1% and the Nikkei 225 eased 1.6% and rose 7.1% in 2014.

Nikkei extended gains for the third year after rising 57% in 2013 and 22.9% in 2012.

The Nikkei 225 Stock Average declined 279.07 or 1.6% to 17,450.77 and the broader Topix index dropped 17.16 to 1,407.51.

The yen fell 0.4% to 120.19 against one dollar.

Stocks in Review

Hitachi, Ltd declined 2.4% to 900.70 yen after the diversified power industrial conglomerate decided to acquire water management service provider Aqua Works and Engineering Pte Ltd in Singapore.

The transaction is expected to close in January 2015.

Orix Corporation dropped 2.1% to 1,523.50 yen after the financial leasing company plans to enter airport management business from February with Fukuoka Airport as the first client.

Nippon Yusen Kabushiki Kaisha slipped 0.9% to 342 yen after the cargo shipping company was ordered by the U.S. Department of Justice to pay $59.4 million fine for participating in a conspiracy to fix U.S. transportation prices and rig bids for cars and trucks.

Toray Industries Inc climbed 3.3% to 968.20 yen after the Nikkei reported diversified films and chemical product maker may supply carbon-fiber materials to German carmaker Bayerische Motoren Werke AG.

The company also said nine-month operating profit is expected to climb about to 12%.