Japanese Stocks Mixed as Export-Related Issues Weigh
Market sentiment in Japan was characterized by divergent performance among the country's top-lenders, exporters, and automakers. Mitsubishi UFJ Financial Group Inc. regained momentum after announcing a return to profitability in fiscal 2009, which expired in March. Conversely, concerns about the global economic recovery weighed on the country's export-oriented sectors, with Canon Inc. and Advantest Corp. experiencing declines. On the other hand, electronics manufacturers Sony Corp. and Nintendo Co. Ltd recorded impressive gains.
Key Takeaways:
- Mitsubishi UFJ Financial Group Inc.'s stock rose 0.7 percent to 452 yen, erasing earlier losses, following its announcement of a return to profitability in fiscal 2009.
- Japanese export-related issues led to declines in Canon Inc. and Advantest Corp., with the former falling 1.1 percent to 3,930 yen and the latter dropping 0.6 percent to 2,183 yen.
- Sony Corp. and Nintendo Co. Ltd outperformed the market, with their stocks rising 2.7 percent to 2,911 yen and 3.5 percent to 26,850 yen, respectively.
- Toyota Motor Corp. experienced a slip in share price due to a recall announcement involving four high-end Lexus models.
- A total of 2.45 billion shares changed hands on the Tokyo exchange's First section, up from Tuesday's volume of 2.31 billion shares.
Statistics:
- Mitsubishi UFJ Financial Group Inc.'s stock rose 0.7 percent to 452 yen.
- Canon Inc.'s stock fell 1.1 percent to 3,930 yen.
- Advantest Corp.'s stock dropped 0.6 percent to 2,183 yen.
- Sony Corp.'s stock rose 2.7 percent to 2,911 yen.
Sources:
- Euclid Infotech Pvt. Ltd.
- Syndigate.info
- Albawaba.com