Индивидуальные курсы Java. Обучение программированию Java в Москве и Санкт-Петербурге. |
 |
Mar-08-2011Japanese Stock Indexes Rise After Oil Falls for First Time in Three Days(topic overview)
CONTENTS:
- The Topix index of all first section issues gained 1.45 percent, or 13.66 points, to 955.59. (More...)
- Tokyo stocks fell sharply Monday, erasing gains made last week, on a rise in crude oil prices and political uncertainty in Japan following the resignation of Foreign Minister Seiji Maehara. (More...)
- '''Still, there are no issues on the supply side and if economic expansion continues, we think any negative impact should be limited.''' (More...)
- The PHLX semiconductor index has risen 130 percent since March 2009. (More...)
- Japan's stocks tumbled, falling below a key support level and erasing last week's gains. (More...)
- Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. (More...)
- At the end of 2010, the number of listed companies on the following Japanese securities exchanges were approx: TSE1 (1,700), TSE2 (450), OSE1 (650), OSE2 (250), Hercules (170), Mothers (180), and JASDAQ (950). (More...)
- Shares in the Topix were valued at 15.8 times estimated earnings on average as of the last close, compared with 13.6 times for the S&P; 500 and 11.2 times for the Stoxx 600. (More...)
Selected Sources
Find out more on this subject
The Topix index of all first section issues gained 1.45 percent, or 13.66 points, to 955.59. "On the back of the economic recovery, the market will be in the mood to test its topside," said Masatoshi Sato, senior strategist at Mizuho Investors Securities. He added: "There are risks that the turmoil in Libya would spread to other countries," Sato said. The political upheaval in Libya sent benchmark U.S. crude oil futures sharply higher above $102 dollars per barrel and gold prices hit a record high this week, causing volatile moves in the stock market. [1] TOKYO (Reuters) - Japan's Nikkei benchmark is expected to extend losses on Tuesday, with technology shares following their counterparts in the U.S. lower, while uncertainty over higher oil prices may trigger futures selling. The Nasdaq composite index dropped 1.4 percent and closed just above its 50-day moving average on Monday, a widely followed technical level that if breached could signal more declines in the tech sector, which has helped lead the market rally. Wells Fargo downgraded the semiconductor sector, noting its strong upward moves. [2] Gains may be limited as concerns over oil prices persist By Ayai Tomisawa TOKYO, March 8 (Reuters) - Japan's Nikkei benchmark edged higher on Tuesday as investors covered short positions after selling heavily the previous day, but gains may be limited as concerns about turmoil in the Middle East and oil prices persist, analysts said. Buying in Monday's decliners, such as exporters, offset losses in tech shares, which followed their U.S. counterparts lower. [3] Inpex extends gains as oil hits 2-½ yr highs By Ayai Tomisawa and Antoni Slodkowski TOKYO, March 7 (Reuters) - Japan's Nikkei average tumbled on Monday, falling below a key support level and erasing last week's gains, as fears of more turmoil in the Middle East and higher oil prices overshadowed solid U.S. payrolls data. [4] TOKYO, March 7 (Reuters) - Japanese government bond 10-year futures rose a half point on Monday after Japan's Nikkei average.N225 extended losses as fears of more turmoil in the Middle East and higher oil prices prompted players to. [5]
Rising crude oil prices due to political unrest in the Middle East and North Africa are weighing on investor sentiment. The Nikkei Stock Average opened up 8 points at 10,513, before widening its gains by about 40 points to trade in the mid-10,500 range. [6] The impact from high oil prices spurred by uncertainties in Libya and the Middle East is likely to have a '''limited''' negative impact on Japan'''s Nikkei 225 Stock Average as demand growth offsets higher energy costs, according to UBS AG. [7]
Asian stocks fell on Monday, as fears of more turmoil in the Middle East and higher oil prices overshadowed solid U.S. payroll data. [8] Japans flagship index fell in trading today (March 7th) as higher oil prices erased last weeks gains and overshadowed positive U.S. payrolls data. [9] Tokyo, March 4 (DPA) Japanese shares rose strongly in Friday morning trading following an overnight rally on Wall Street bolstered by positive U.S. employment reports and retreating oil prices. [10] Tokyo, March 8 (DPA) Japanese shares rose in Tuesday morning trading as investors picked up bargain stocks after sharp falls on the previous day. [11]
Terumo Corp ( 4543.T ) climbed 2.8 percent to 4,620 yen after the company said it would buy U.S. medical device company CaridianBCT from a Swedish firm for about $2.6 billion, marking the largest acquisition by a Japanese medical equipment maker. Shinsei Bank ( 8303.T ) jumped 3.6 percent to 116 yen in active trade after it set the price of its new stock offering for overseas investors at 108 yen per share, a 3.6 percent discount to Monday's closing price of 112 yen. [3] The resignation of Japanese Foreign Minister Seiji Maehara on Sunday over political donations added to troubles facing unpopular Prime Minister Naoto Kan but participants said it had no immediate impact on the market. Despite a 22 percent rise in U.S. oil prices over the last two weeks, Japanese stocks have so far proved largely resilient, and the Nikkei added 1.6 percent last week as investors reassessed risk within their equities portfolios instead of moving out of stocks altogether. [4] Mitsuo Shimizu, deputy general manager at Cosmo Securities, told the news provider that the U.S. non-farm payrolls data was not enough to quell investor fears that the Nikkei could suffer from increasing oil prices. "With strong but not spectacular U.S. payrolls were seeing more signs of global recovery, but in the long term high oil prices can threaten the earnings of Japanese companies and thats what investors are concentrating on now," he added. [9] For a graphic of equities' correlation to oil see: r.reuters.com/mut38r "With strong but not spectacular U.S. payrolls we're seeing more signs of global recovery, but in the long term high oil prices can threaten the earnings of Japanese companies and that's what investors are concentrating on now," said Mitsuo Shimizu, deputy general manager at Cosmo Securities. [4] "With strong, but not spectacular U.S. payrolls we're seeing more signs of global recovery, but in the long term, high oil prices can threaten the earnings of Japanese companies and that's what investors are concentrating on now," said Mitsuo Shimizu, deputy general manager at Cosmo Securities. "Maehara's decisions will have no immediate impact on the market, and it's hard to see how Prime Minister Kan could call a snap election with local elections coming up in April," he said. [12]
Short-term investors may take daytime oil prices as cues and sell futures if oil prices rise," said Shinichiro Matsushita, a market analyst at Daiwa Securities. [2] "We may see more selling by futures players today just like yesterday, depending on how worries about high oil prices intensify," said Masumi Yamamoto, a market analyst at Daiwa Securities Capital Markets. [3]
TOKYO (Reuters) - Japan's Nikkei benchmark is expected to extend losses on Tuesday, with technology shares following their counterparts in the U.S. lower, while uncertainty over higher oil prices may trigger futures selling. [2] Gains may be limited as concerns over oil prices persist By Ayai Tomisawa TOKYO, March 8 (Reuters) - Japan's Nikkei benchmark edged higher on Tuesday as investors covered short. [3] TOKYO, March 8 (Reuters) - Japan's Nikkei benchmark edged higher on Tuesday as investors covered their short positions after selling heavily the previous day, but gains may be limited as uncertainty over the Middle East persists, analysts said. [13]
TOKYO (NQN)--Tokyo stocks rebounded slightly Tuesday, with the Nikkei Stock Average closing the morning at 10,545.44, up 40.42 points, or 0.38%, from Monday. After the benchmark index dropped 188 points on Monday, higher Nikkei futures spurred investors to cover their short positions. [14] The benchmark Nikkei 225 Stock Average added 40.42 points, or 0.38 percent, to trade at 10,545.44 while the broader Topix index was up 1.23 points, or 0.13 percent, at 942.86. Some high-tech issues got a boost after Hitach Ltd said Monday the electronics giant had agreed to sell its US-based hard drive unit to rival Western Digital Corp for about 4.3 billion dollars in cash and stock. [11]
The TOPIX index of all shares traded on the Tokyo Stock Exchange First Section declined 13.96 points or 1.46 percent to 941.63. [15] The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 13.96 points, or 1.46 percent, at 941.63. [16]
In the week to March 4 the headline Nikkei index at the Tokyo Stock Exchange rose 1.59 percent, or 166.9 points, to 10,693.66. [1] We have found that broad equally-weighted indices of stock markets are considerably less noisy than traditional major market indices. They tend to be a leading indicator for major market indices at important turning points. Turning to the subject matter of this article, Japanese equities, the most widely recognized Japanese stock index is the Nikkei. It is essentially a price-weighted index of the most liquid 225 stocks trading on the Tokyo Stock Exchange. [17] There is a lot more to the Japanese stock market than the Nikkei and the TSE. There are six securities exchange markets in Japan: the Tokyo Stock Exchange, Osaka Stock Exchange, Nagoya Stock Exchange, Sapporo Stock Exchange, Fukuoka Stock Exchange, and the JASDAQ. The JASDAQ is the only one specialized solely in venture firms and small capitalization stocks. Other Japanese exchanges created "sections" that specialize in "small cap" stocks such as the TSE's Mothers exchange and OSE's Hercules exchange. [17]
The behavior of the Equally Weighted JASDAQ index suggests that the "average" listed stock in Japan is engaged in a materially stronger bull trend than the major averages (like the Nikkei or even TOPIX) are suggesting. It really does appear that something big and bullish is developing in the Japanese stock market. [17]
Japans Nikkei 225 index has climbed 15 percent since Nov. 1. The increase means Japanese stocks have done better over the past four months than they have in 17 of the last 21 calendar years. They are also beating the major indexes in the U.S. and other countries. Its new ground for the Nikkei 225, which has done worse than U.S. stocks in all but four years over the past two decades. Even with the gains, the Japanese index is still 73 percent below its peak, set on Dec. 29, 1989. "I dont think this is just a one-time event," said Taizo Ishida, a portfolio manager who runs the $76.6 million Matthews Japan Fund and the $340.4 million Matthews Asia Pacific Fund. "Im not bold enough to say this time is different, but it may be. [18] A lower price-to-book ratio indicates investors are getting ownership of the companys assets more cheaply. Japanese stocks at the end of January traded at an average of 1.2 times their book value, according to investment analysis company MSCI. Thats nearly 50 percent cheaper than U.S. stocks, which traded at 2.3 times their book value. Japanese stocks dont look that cheap when measured against their profits: They trade at an average of 17 times their earnings over the prior year, about the same as U.S. stocks. Thats much cheaper than their average price-earnings ratio over the past 20 years, of 27 times. [18]
TOKYO (NQN)--Tokyo stocks opened down Monday in response to Friday's fall in the Dow Jones industrial average, with the Nikkei Stock Average starting trading at 10,626, down 66 points from Friday. Investors in Tokyo sold their holdings to lock in profits. [19] TOKYO (NQN)--The Nikkei Stock Average ended Monday morning lower as investors seeking to avoid risk sold shares after Friday's fall in the Dow Jones Industrial Average in New York. [20]
TOKYO (NQN)--Tokyo stocks rose slightly Tuesday, with the Nikkei Stock Average opening the afternoon in the lower-10,500 zone, up about 30 points from Monday. [21]
The Nikkei index of the Tokyo Stock Exchange fell 1.76 per cent, or 188.64 points, to 10,505.02. [22] Why not look at the behavior of the more speculative or economically sensitive growth stocks of the JASDAQ exchange? Note from the JASDAQ Index chart below, the trends in the behavior of the JASDAQ are far less subject to noise than that of the Nikkei! Also note the formation of what appears to be a long term bottom. [17]
JAPAN STOCKS: The Nikkei 225 Index is up 0.32% at 10,538.99 at mid-morning. Health care stocks are buoying the benchmark index, with industrials and oil majors also offering support, though tech stocks are weighing after Wells Fargo downgraded its rating on the semiconductor sector overnight. [23] Japan's benchmark Nikkei 225 stock average dropped 1.7 percent, to 10,510.94. [24]
"We've been seeing CTA moves over the past two weeks and we've seen quite heavy CTA flows today," said a futures trader at a European brokerage, who asked not to be quoted by name. "They traded on economic indicators like U.S. jobs data until last month, but they are completely ignoring economic indicators now and are just looking at oil prices." The benchmark Nikkei.N225 fell 1.8 percent, or 188.64 points, to 10,505.02, dropping below immediate support of 10,537.09, the kijun line on its daily Ichimoku chart. [4] Nikkei futures point to a lower start. They last traded in Chicago at 10,450, 80 points below their closing level in Osaka. The benchmark Nikkei fell 1.8 percent, or 188.64 points, to 10,505.02 on Monday, dropping below immediate support of 10,537.09, the kijun line on its daily Ichimoku chart. [2] Nikkei futures also point to a lower start. They last traded in Chicago at 10,650, 0.5 percent below their closing level in Osaka. Analysts said the Nikkei is expected to trade between 10,550 and 10,650 and the benchmark's immediate support looms around its 25-day moving average of 10,597.90. [12]
The benchmark Nikkei.N225 added 1.6 percent last week, gaining 1 percent or 107.64 points to 10,693.66 on Friday. It has gained over 16 percent since November, outperforming other Asian markets. Market participants said euro-sensitive exporters such as precision equipment makers like Nikon Corp ( 7731.T ) and Canon Inc ( 7751.T ), glassmakers, as well as carmaker Mazda Motor ( 7261.T ) may continue to outperform the overall market as the euro held on to its huge Friday gains against the yen on expectations interest rates in the euro zone will rise as early as next month. Bank shares may struggle after Bank of America Merrill Lynch downgraded shares of Citigroup Inc ( C.N ) and Goldman Sachs Group Inc ( GS.N ) to "neutral" from "buy", sending their shares lower, on expectations of subdued client activity and geo-political risks to weigh on the first-quarter earnings of large U.S. banks. [12] TOYOTA DROP On the other hand, shares in the world's largest automaker, Toyota Motor Corp ( 7203.T ) declined 2.4 percent to 3,695 yen in active trade after Standard & Poor's agency on Friday downgraded it to "AA-" from "AA" on weak profitability. "Toyota's profitability has been recovering, but it is still weak and is improving at a slower pace than the profitability of its Japanese peers," S&P; said in a statement. Linear motion system maker THK ( 6481.T ) fell 4.1 percent to 2,137 yen after Goldman Sachs cut its rating to "neutral" from "buy" and took it off its conviction buy list. It cut its forecast for THK's operating profit in the 2012/13 financial year, citing a slowdown in corporate semiconductor-related capital investment. The brokerage also cut its target price to 2,150 yen from 2,400 yen. [4] The broader Topix index fell 0.1 percent to 940.83, with about four shares rising for every three that declined. The Topix rose 4.8 percent this year through yesterday, compared with gains of 4.2 percent by the Standard & Poor'''s 500 Index and 1.8 percent by the Stoxx Europe 600 Index. [25] The broader Topix index advanced 0.1 percent to 942.92, with almost three times as many shares advancing as falling. [25]
The broader Topix index shed 1.5 percent to 941.63. From a technical standpoint, the Nikkei is seen supported at its 13-week moving average of 10,441 in the short term, analysts said. The chairman of Chinese drinks maker Hangzhou Wahaha said at the weekend he was considering buying a Japanese dairy firm, pushing Megmilk Snow ( 2270.T ) up 2.3 percent to 1,505 yen and Morinaga Milk ( 2264.T ) up 1.8 percent to 348 yen. [4] The broader Topix index gained 0.1 percent to 942.86. Analysts said the Nikkei may stay volatile before Nikkei futures and options settlement this Friday. [3]
Analysts also said that concern about higher oil prices looks to set to drive volatility in the futures market ahead of Nikkei 225 futures and options settlement on Friday. [2] As long as Japan'''s currency remains weaker than 80 yen to the U.S. dollar, operating profit could continue to rise, even if oil reaches $140 a barrel, the analysts wrote. '''The possibility remains that such uncertainties in the Middle East could spread and deepen, and energy prices could rise, leading to further adjustments in the Nikkei 225 (NKY),''' Hirakawa wrote. [7] Japan's largest oil and gas developer Inpex Corp ( 1605.T ) extended gains, adding 1.6 percent to 588,000 yen. It has surged some 24 percent so far in 2011 amid turmoil in the Middle East, outperforming the Nikkei's 2.7 percent gain in the same period. [4]
According to Reuters, the Nikkei slid as investors remained concerned about the possibility rising tensions in the Middle East will impact oil prices and threaten the global economic recovery. [9] Investors still showed concern about the political uncertainty in the Middle East and North Africa and rising crude oil prices. This, as well as an overnight fall in blue-chip high-tech issues on Wall Street, limited upward momentum. [14] Popular unrest in the Middle East and North Africa has caused crude oil prices to spike, weighing on oil-related shares. [20] TOKYO Japanese shares tumbled on Monday with sentiment hit by spiking oil prices amid fears of continued unrest in North Africa and the Middle East, with automakers suffering particularly. [22]
TOKYO: Japanese shares are likely to be supported by hopes of global economic recovery next week, but uncertainties over unrest across the Middle East and North Africa will limit gains, brokers said. [1]
The mining, air transport, and electric and gas sectors were the only gainers. Snapping a two-day winning streak, stocks were pressured after crude oil futures hit their highest closing level in two years and five months on the New York market Friday amid persistent concern over the unrest in the Middle East and North Africa. [16] Worries about Middle East tensions grew, helping U.S. crude CLc1 surpass $106 to reach the highest price in 2-½ years on Monday, as a counter-offensive by Libya's Muammar Gaddafi against rebels deepened concerns that a civil war could erupt in Africa's largest holder of oil reserves. [4]
Tokyo stocks fell sharply Monday, erasing gains made last week, on a rise in crude oil prices and political uncertainty in Japan following the resignation of Foreign Minister Seiji Maehara. [16] South Korea's Korea Composite Stock Price Index (KOSPI) and India's Sensex index fell around 1%, respectively, amid concerns about rising crude oil prices. [26]
For every 10 percent increase in crude oil prices, operating profit for Japanese companies is cut by 0.65 percent, strategists led by Shoji Hirakawa wrote in a UBS report dated March 4. [7] March 7 (Bloomberg) -- Pavel Molchanov, an analyst at Raymond James & Associates, talks about the outlook for crude oil prices. [25]
"In terms of fundamentals, surging oil prices are of course bad for the economy, but concerns about inflation in emerging markets are actually helping divert money flows into developing economies, supporting Japan stocks," said Tadao Kimura, senior fund manager at Sumitomo Mitsui Asset Management. "Also in terms of timing, a correction in the market was badly needed after it gained so much in recent months, so at this stage I'm not particularly worried about daily swings -- it's natural that investors are a bit more nervous these days." Analysts also said the cash market will likely be swayed by futures-led moves in the short-term as program traders such as commodity trading advisors have been behind volatile market moves amid surging oil prices. [4] Investors were still cautious about surging oil prices amid intensifying turmoil in major oil producer Libya. [11]
HONG KONG Hong Kong shares fell 0.41 per cent on Monday, weighed by global worries about rising oil prices, although gains on the mainland Chinese markets limited losses. [22] TOKYOJapanese government bond prices fell Friday due to improved sentiment for the U.S. economy and in reaction to a rise in Tokyo share prices, as investors moved out of the safety of government securities. [27] TOKYO (NQN)--Tokyo stocks opened slightly higher Tuesday, with investors buying back shares viewed as undervalued following the previous day's plunge. [6] Tech shares underperformed the market, with Toshiba Corp ( 6502.T ) falling 0.6 percent to 515 yen, Sony Corp ( 6758.T ) dropping 1.0 percent to 2,897 yen and Tokyo Electron ( 8035.T ) shedding 1.0 percent to 5,240 yen. Hitachi Ltd ( 6501.T ) gained 2.6 percent to 518 yen after the electronics conglomerate said it would sell its hard disk drive operations to Western Digital ( WDC.N ) for about $4.3 billion in cash and stocks. [3] Consider Toshiba Corp., a maker of everything from nuclear reactors to televisions to vacuum cleaners. Its stock dropped 80 percent between the end of 1989 and early 2009. It said earlier this month that strong growth in China helped it to a profit of 12.4 billion yen ($152.7 million) last quarter, reversing a loss of 10.6 billion yen from a year earlier. Its stock has climbed 31 percent since Nov. 1. [18] Oki Electric Industry ( 6703.T ) soared 14 percent to 83 yen after the telecoms equipment maker, which expects a 28 billion yen ($340 million) net loss for the business year ending on March 31, said 1,018 employees had agreed to take early retirement. [4]
The broader Topix shed 1.5 percent to 941.63. The chairman of Chinese drinks maker Hangzhou Wahaha said at the weekend he was considering buying a Japanese dairy firm, pushing Megmilk Snow up 2.3 percent and Morinaga Milk up 1.8 percent to 348 yen. [8]
The resignation of Japanese Foreign Minister Seiji Maehara over political donations added to troubles facing unpopular Prime Minister Naoto Kan but participants said it had no immediate impact on the market. The benchmark Nikkei fell 1.8 percent, dropping below immediate support of 10,537.09, the kijun line on its daily Ichimoku chart. [8] The benchmark Nikkei 225 average closed with a loss of 188.64 points or 1.76 percent at 10,505.02. [15] The benchmark Nikkei.N225 dropped 0.8 percent, or 88.97 points, to 10,604.55. [28]
'''Still, there are no issues on the supply side and if economic expansion continues, we think any negative impact should be limited.''' The Nikkei 225 dropped 1.8 percent to 10,505.02 in Tokyo today, extending this month'''s declines to 1.1 percent, as oil rose to a 29-month high as fighting intensified between Libyan rebels and troops loyal to Muammar Qaddafi. [7] The price of crude oil in New York was down for the first time in three days, declining 0.38 percent to $101.84 per barrel, amid reports that Venezuela could mediate in the Libyan conflict. [10] Overnight oil prices rose to a 29-month high in New York amidst attacks on rebels by Libyan leader Muammar Gaddafi's security forces. [11] Concerns about inflation linger amid the continued rise in crude oil prices. [19] Given very little economic catalysts, traders are likely to track the direction of oil prices. [15] Analysts said that although short-covering may help prevent the market from falling sharply, there may be some selling in the afternoon if oil prices rise. [3] The sectors whose earnings are the most negatively affected by higher oil prices are chemical products, iron and steel, non- ferrous metals, electric power and gas, and transportation sectors, according to the report. [7]
U.S. stocks soared Thursday as weekly claims for jobless benefits fell unexpectedly and the price of oil dropped. [10] Given that the median price to book ratios of stocks on the JASDAQ is 0.75x and for the Tokyo Stock Exchange 0.88x, and respective dividend yields of 2.0x and 2.2x (which are light years ahead of the pathetic 1.3% you get for 10yr JGBs) I think that there is considerable upside potential, or if I am a little too early then very limited downside from current levels. [17] Last year, Japan ceded the title of worlds No. 2 economy to China. Ishida said Japanese corporate executives he talks with now are focused on growth, when a few years ago they cared more about keeping employment steady. Price: Japanese stocks are some of the worlds cheapest, when measured against their book values. A companys book value shows how much it is worth after subtracting its debt and other liabilities from its assets. [18] Investors poured more new money into Japanese stock funds during the week through Feb. 16 than in any other week in nearly four years, according to fund-tracker EPFR Global. [18] Protests in the Middle East have also highlighted the risks of investing in emerging markets. That has pushed investors to yank money out of emerging market stock funds. [18] TOKYO (NQN)--Tokyo stocks lost ground Monday, with investors aggressively selling them to avert risk amid weak Asian stocks that opened before the lunch break here. [26]
Volume was moderate, with 2.2 billion shares changing hands on the Tokyo stock market's main board, which was in line with last week's average daily volume. [4] Traditional market analysis is based on analyzing the behavior of major market indices like the S&P; 500, Dow, and Nikkei. As I have discussed on many occasions before, these indices provide a very narrow representation of the behavior of the stock market. At cyclical bottoms, they tend to lag the behavior of smaller capitalization issues, and at times of cyclical tops, the average listed stock usually falls out of its bullish tree well before the major market indices do. [17]
The Nikkei Stock Average opened the afternoon session at around 10,500, down more than 180 points. [26]
At the close, the Dow Jones Industrial Average was down 79.85 points or 0.66 percent at 12,090.03, the Nasdaq Composite Index was down 39.04 points or 1.40 percent at 2,745.63 and the S & P 500 was down 11.02 points or 0.83 percent at 1,310.13. [15] SHANGHAI On the mainland, the Shanghai Composite Index rose 1.83 per cent as top officials allayed fears of an imminent further interest rate rise. The Composite, which covers both A and B shares, rose 53.90 points to 2,996.21. [22] The Topix index of all first section shares dropped 1.46 per cent, or 13.96 points, to 941.63. [22]
The PHLX semiconductor index has risen 130 percent since March 2009. Crude edged lower on Monday after hitting its highest since September 2008 on conflict in the Middle East. [2] Oil rose to a 29-month high in New York as escalating violence in Libya bolstered concern that supply disruptions may spread through the Middle East. [25] For the short-term, the market may see some correction due to continuing worries about develoments in the Middle East," said Hajime Nakajima, deputy general manager at Cosmo Securities. He said that the Nikkei's support is seen at its January closing low of 10,237. [3]
''The fall can be attributed to the high crude oil prices,'' said Yumi Nishimura, senior market analyst at Daiwa Securities Capital Markets Co. ''The (jobs) data were solid but not strong enough to dispel the uncertainties'' hanging over the market amid the unrest in oil-producing regions, she added. [16]
The unemployment rate in the world's largest economy fell below 9 percent for the first time in nearly two years, U.S. government data showed on Friday. [4] Among the export leaders, Sony shares fell 1.7 percent, Sharp Corp was down.12 percent and Canon was down 2.4 percent. In other Monday trading, U.S. markets were lower at close, but well off their session lows. [15] Trading volume on the main section fell to 2,204.63 million shares from Friday's 2,308.31 million. [16]
Crude for April delivery fell as much as 97 cents to $104.47 a barrel in electronic trading on the New York Mercantile Exchange today after al-Jazeera reported that Libya '''s Muammar Qaddafi offered to relinquish power. [25] Brent crude fell 0.8 percent to $115.20 a barrel. "Mid-to-long-term investors dislike uncertainty, therefore they may stay on the sidelines for a while. [2] The U.S. employment data for February released Friday, which showed nonfarm payrolls rose by 192,000, indicated U.S. economic recovery but fell short of some investors' expectations, brokers said. [16] Investors can benefit from stronger-than-expected U.S. growth in several ways, but "Japan is the best way," Credit Suisse strategists wrote in a recent report. [18] The sudden resignation of Maehara over illegal political donations from a foreign resident of Japan added to the disarray surrounding Prime Minister Naoto Kan's government, also denting investor sentiment, brokers said. ''Profit-taking took the upper hand,'' said Hiroichi Nishi, equity division manager at Nikko Cordial Securities Inc. He also noted that further turmoil is expected for Kan's government, which is struggling to pass budget-related bills in addition to coping with Maehara's resignation. ''Foreign investors may not have had high hopes for the government to begin with, but the latest development has increased their disappointment,'' he said. [16]
"Commodity trading advisors may continue to be big players in the futures market," said Hiroichi Nishi, general manager at Nikko Cordial Securities. [2]
The major U.S. index futures are pointing to a slightly higher opening on Monday, although oil'''s climb is expected to keep sentiment in check. [15] The benchmark index moved in a narrow range due to a lack of incentives, with Sony Corp. (6758), Nissan Motor Co. (7201) and other exporters trading in negative territory. [21] The benchmark index fell 141.73 points, or 1.33%, to 10,551.93, down 160 points at one point. [20] The benchmark index shed 1.8 per cent to fall to 10,505.02, which took it below the immediate support of 10,537.09. [9]
A decisive break below 10,550 may trigger aggressive selling in futures, pushing the benchmark down further, traders said. [12]
Japan's stocks tumbled, falling below a key support level and erasing last week's gains. [8] Terumo, Japan'''s No. 1 medical-device maker, climbed 2.5 percent after it agreed to buy Gambro AB'''s CaridianBCT unit. Shinko Electric Industries Co., a maker of semiconductor packages, sank 3.2 percent after Barclays Plc cut its rating on the stock. [25]
JASDAQ Stock Index Now the problem with the JASDAQ Index is that it is dominated by just 3 companies (Yahoo, Rakuten, and Jupiter) which account for 35% of the index. If we take all the components of the JASDAQ Index and equally weight them a rather different story emerges. [17] The Taiwan Weighted Index closed down 70.61 points or 0.80 percent at 8,713.79. [15] The Hang Seng index in Hong Kong was down 95.67 points or 0.41 percent at 23,313.19. [15] India's BSE 30/SENSEX index was down 263.78 points or 1.43 percent at 18,222.67. [15]
The Nikkei fell more than 2 percent at one point as fresh bouts of profit-taking emerged in the afternoon, brokers said. [16]
JAPAN STOCKS: The Nikkei 225 Index is marginally higher as the midway mark of the afternoon session approaches. [23]
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. [12] U.S. stocks may seem like the logical way, but Japanese companies that export to the U.S. will also benefit from stronger U.S. spending. [18] Terumo said it would buy U.S. medical device company CaridianBCT from a Swedish firm for about $2.6 billion, marking the largest acquisition by a Japanese medical equipment maker. [2] Hitachi said on Monday that it would sell its hard disk drive operations to Western Digital for about $4.3 billion in cash and stock. [2] A man watches an electronic stock indicator in Tokyo, Monday, March 7, 2011. [24]
At the end of 2010, the number of listed companies on the following Japanese securities exchanges were approx: TSE1 (1,700), TSE2 (450), OSE1 (650), OSE2 (250), Hercules (170), Mothers (180), and JASDAQ (950). [17] Toyota dropped 90 yen, or 2.4 percent, to 3,695 yen, after a rating downgrade late last week by U.S. rating agency Standard & Poor's. [16] Economic strength: Economies are strengthening around the world. Deutsche Bank earlier this month raised its forecast for full-year 2011 U.S. economic growth to 4.3 percent from 3.3 percent. [18]
Shares in the Topix were valued at 15.8 times estimated earnings on average as of the last close, compared with 13.6 times for the S&P; 500 and 11.2 times for the Stoxx 600. [25] Export-oriented shares got a boost as the yen fell against major currencies, hovering around the mid-82-yen level to the dollar. [10]
SOURCES
1. Daily Times - Leading News Resource of Pakistan
2. Nikkei seen falling led by tech shares, futures | Reuters
3. Nikkei edges up on short-covering, oil prices eyed | Reuters
4. Nikkei tumbles as oil price overshadows US jobs data | Reuters
5. JGB futures rise 0.50 point as Nikkei extends losses | Reuters
6. 2011/03/08 09:26 - Nikkei Opens Higher As Undervalued Stocks Bought Back
7. Demand Offsets Impact of Oil'''s Surge on Nikkei, UBS Says - Bloomberg
8. News Headlines
9. Nikkei falls on higher oil prices - One Financial Markets Blog
10. Japanese stocks surge on US rally, declining oil prices | CalcuttaTube
11. Japanese stocks back up on bargain hunting after heavy selling
12. Nikkei set to slip, oil overshadows U.S. jobs data | Reuters
13. Nikkei edges higher on short-covering | Reuters
14. 2011/03/08 12:26 - Nikkei Finishes Morning Higher Led By Nikkei Futures
15. Lower Open Projected For Tokyo Stocks
16. UPDATE1: Tokyo stocks tumble on surging crude prices, political uncertainty
17. A Stealth Bull Market Continues for Japanese Equities - Seeking Alpha
18. JAPANESE STOCKS RISING AGAIN | Business | PE.com | Southern California News | News for Inland Southern California
19. 2011/03/07 09:27 - Nikkei Down On Weak Wall St, Rising Crude Oil Prices
20. 2011/03/07 11:57 - Tokyo Stocks Down On Wall St Decline, High Crude Prices
21. 2011/03/08 13:25 - Nikkei Treads Water Amid Lack Of Incentives
22. Asian stocks close lower
23. JAPAN STOCKS: The Nikkei 225 Index is up 0.32% at at | Real Time Market News | Need to Know News
24. Stocks recover as oil prices drop from highs
25. Japanese Stocks Fluctuate as Hitachi, Terumo Advance, Shipping Lines Drop - Bloomberg
26. 2011/03/07 13:45 - Nikkei Falls On Weak Asian Stocks
27. Japanese Bond Yields Rise - WSJ.com
28. Nikkei slips as oil overshadows U.S. jobs data | Reuters
GENERATE A MULTI-SOURCE SUMMARY ON ANY SUBJECT IN SECONDS! - Use a bunch of the powerful iResearch Reporter tools from Power Text Solutions.
Try out this innovative free service today! |
|  |
|
