Japanese Market Trades Higher





(RTTNews.com) – The Japanese stock market is trading higher Monday with Friday’s positive close on Wall Street lifting sentiment. Easing worries about the eurozone banking industry, with none of Europe’s top banks failing the stress test, also contribute to the positive mood in the market.

The benchmark Nikkei 225 index is up 60.5 points or 0.4 percent at 15,352.1, after having advanced to 15,414.9 earlier.

Tokyo Electric Power is advancing 6.5 percent on reports that the company’s pre-tax profit almost tripled. Mitsui Chemicals Inc. is gaining over 4 percent. Keisei Electric Railway, Mitsui Engineering & Shipbuilding, Nissan Chemical Industries and Obayashi Corp are up 3 to 3.3 percent.

Fuji Electric is up nearly 3 percent. Fujifilm Holdings, Nippon Soda, Ube Industries, Oki Electric Industry, ANA Holdings, Kansai Electric Power, Teisin, Kubota Corp. and GS Yuasa Corp. are up 2 to 2.6 percent.

Citizen Holdings, Chubu Electric Power, Yokogawa Electric Corp., Sumitomo Chemical, West Japan Railway, KDDI Corp., Showa Denko KK, Nippon Yusen KK and Taisei Corp. are also up sharply.

Among the losers, Sharp Corp. is lower by 2.2 percent on a likely 10 percent decline in the company’s April-September operating profit.

Fanuc Corp. is declining 3.6 percent. Unitika, Hitachi Zosen Corp., Nikon Corp., Mitsubishi Motors, Inpex Corp., Toho Zinc and Chugai Pharmaceutical Co. are down 0.5 to 2 percent.

In economic news, corporate service prices in Japan were up 3.5 percent on year in September, the Bank of Japan said on Monday – in line with expectations and unchanged from the previous month. On a monthly basis, prices added 0.1 percent after dipping 0.2 percent in August.

Among the individual components, prices were up for transportation and postal activities, and down for advertising services. For the third quarter, prices were up 3.5 percent on year and were unchanged on quarter.

In the currency market, the U.S. dollar traded in the lower 108 yen range in early deals in Tokyo, after closing at 108.23 yen on Friday.

Among other markets in the Asia-Pacific region, Australia and South Korea are notably higher. Malaysia, Taiwan, Shanghai, Hong Kong and Singapore are trading weak.

On Wall Street, stocks ended notably higher on Friday, with traders reacting positively to earnings news from Microsoft (MSFT) and Procter & Gamble (PG) and to a report from the Commerce Department that showed U.S. new home sales to have ticked higher in September.

The major averages ended the session near their best levels of the day, with the Nasdaq settling at a near one-month high. The Dow climbed 127.5 points or 0.8 percent to 16,805.4, the Nasdaq advanced 30.9 points or 0.7 percent to 4,483.7 and the S&P 500 rose 13.8 points or 0.7 percent to 1,964.6.

Major European markets closed weak on Friday. While the U.K.’s FTSE 100 index declined 0.5 percent, the French CAC 40 index and the German DAX index both ended lower by 0.7 percent.

U.S. crude oil ended sharply lower on Friday, on demand growth concerns after news of strong supply from the Middle East, with markets discounting reports that Saudi Arabia has cut its crude output.

Crude oil futures for December delivery ended down $1.08 or 1.3 percent at $81.01 a barrel on the New York Mercantile Exchange.

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Source Article from http://www.nasdaq.com/article/japanese-market-trades-higher-20141026-00060
Japanese Market Trades Higher
http://www.nasdaq.com/article/japanese-market-trades-higher-20141026-00060
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Japanese Test – Yahoo News Search Results
Japanese Test – Yahoo News Search Results



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