Strong Open Expected For Tokyo Stocks

(RTTNews) - Japan stocks are poised for a higher open on Friday, following triple digit gains on Wall Street. Strength in Toyota Motor are also expected to boos the market, as the carmaker reported a 2nd quarter profit after Thursday’s market close.

Japan stocks moved lower on Thursday.The benchmark Nikkei 225 Average declined 126.87 points or 1.29 percent to finish at 9,717.44.

Among the Nikkei component stocks, there were 48 closing higher, 168 were lower and 9 finished unchanged.

The broader Topix index of all stocks listed on the Sokyo Stock Exchange First Section was down 6.31 points or 0.7 percent to 874.96.

Trading volume was approximately 1.9 billion shares.

The financials were stronger. Among the big banks, Mitsubishi UFJ was up 5 yen or 1.04 percent, Mizuho Financial was up 2 yen or 1.11 percent, Sumitomo Mitsui was up 60 yen or 1.93 percent and Resona Holdings was up 11 yen or 1.05 percent.

Elsewhere, Sony shares were down 55 yen or 2.11 percent, Honda was down 75 yen or 2.62 percent and Canon was down 50 yen or 1.47 percent.

In overseas trading, Wall Street staged a rally on Thursday after the latest data on unemployment and productivity put traders in a buying mood. About a half hour before the closing bell, the Dow Jones Industrial Average was up by 189.24 points or 1.93 percent at 9,991.38, the Nasdaq Composite Index was up 45.43 points or 2.21 percent at 2,199,94 and the Standard & Poor’s 500 index was up 17.88 points or 1.71 percent at 1,064.38.

Most of the major Asia/Pacific region markets closed lower on Thursday.

In Hong Kong, the Hang Seng index was down 135.69 points or 0.63 percent at 21,479.08.

China’s Shanghai Composite index was up 26.52 points or 0.85 percent at 3,155.05.

In India, the SENSEX/BSE30 index was up 151.77 points or 0.95 percent at 16,063.90.

The Jakarta Composite index in Indonesia fell 4.64 points or 0.20 percent at 2,367.21.

In South Korea, the KOSPI/Seoul Composite index was down 27.69 points or 1.75 percent at 1,552.24.

The Taiwan Weighted Index closed down 49.58 points or 0.66 percent at 7,417.46.

For comments and feedback: contact editorial@rttnews.com

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