Japanese Stocks Mixed as Export-Related Issues Weigh

Strategic Insights -

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