Bloomberg, (25/4) -- Most Japanese shares rose,
with the Nikkei 225 Stock Average climbing to its highest since 2008, before a
Bank of Japan policy meeting. Gains were limited as Canon Inc. and Nintendo Co.
fell on disappointing earnings.
Mitsubishi UFJ Financial Group Inc., Japan’s biggest lender, climbed 0.3 percent. Canon tumbled the most on the Nikkei 225 after projecting net income lower than analyst estimates on slumping demand for compact cameras. Nintendo slumped 5.2 percent after the world’s biggest maker of video-game consoles posted profit that missed analyst estimates. The Nikkei 225 added 0.2 percent 13,868.30 as of 9:34 a.m. in Tokyo, its highest since June 2008. The Topix Index advanced 0.3 percent to 1,167.36, with almost two shares gaining for each that fell on the 1,698-member gauge. The Topix advanced 61 percent since mid-November through yesterday as Prime Minister Shinzo Abe and central bank Governor Haruhiko Kuroda pledged to defeat 15 years of deflation. The gauge trades at 1.3 times book value compared with 2.3 for the Standard & Poor’s 500 Index and 1.6 for the Stoxx Europe 600 Index, according to data compiled by Bloomberg. |
Written by: Kontak Perkasa Futures
PT.Kontak Perkasa Futures, Updated at: 8:21 AM
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