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Market Update

Honda and Nissan Sales in China Fall in August

Author: Hiruki Nakamura
Last Update: 12:44 PM ET September 02 2014

4:30 PM Tokyo Stocks in Tokyo traded higher and the yen declined for the third day in a row and traded near 105 mark against the dollar. Honda said August sales in China declined 5.5% and Nissan sales in the month edged down 0.7%.

Market indexes in Tokyo advanced and the yen weakened for the second week in a row.

Investors focused on international developments in Europe and tensions between Russia and Ukraine escalated. Ukraine alleged rebels are supported by as many as 16,000 Russian troops and Russian President Vladimir V. Putin supported the breakup of Ukraine.

Also comments from Putin lifted tensions already elevated tensions and Russian forces became more involved in the fighting and supporting rebels.

U.S. President Barack Obama is scheduled to travel to Estonia and offer a symbolic support before he arrives for the NATO meeting in Wales, U.K.

The Nikkei 225 Stock Average climbed 192 or 1.2% to 15,668.60 and the broader Topix index jumped 13.94 to 1,297.

The yen declined to close at 104.85 against one U.S. dollar.

Stocks in Review

Honda Motor Co Ltd jumped 1.4% to 3,519 yen after the automaker reported August sales in China declined 5.5% to 52,513 units from a year ago month.

Nissan Motor Co Ltd gained 0.8% to 1,006.50 after the vehicle maker said along with Chinese partner Dongfeng Motor Group Co sales in August dropped 0.7% to 85,500 units in China from a year earlier.

Senshu Electric Co., Ltd slipped 0.9% to 1,855 yen after the wire and cable maker reported net sales in the third-quarter ending in July climbed 7.5% to 55.60 billion yen from 51.72 billion yen a year ago period.

Net income in the quarter soared 16% to 1.16 billion yen compared to 1 billion yen and earnings per share jumped to 111.13 yen from 95.76 yen a year earlier.

Takashimaya Company, Limited climbed 2.8% to 915 yen after the department store operator said sales in August rose 0.2% and sales at four regional stores of Okayama, Gifu, Yonago and Takasaki edged up 0.1%.

United Arrows Ltd fell 0.6% to 3,830 yen after the apparels retailer reported total sales in August jumped 4% and same store sales climbed 4.5% from a year ago month.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc