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Market Update

Japan's Population Shrinks for the Third Year, China's Growth Slows to 7.4%


Author: Hiruki Nakamura
ticker.com
Last Update: 4:43 AM ET April 16 2014

4:30 PM Tokyo Ė Stocks in Tokyo advanced for the second day in a row and Chinaís quarterly economic growth declined for the sixth quarter in a row. Japanís population declined for the third year in a row.

Market indexes in Tokyo advanced and the yen weakened after China reported better-than-expected economic growth in the March quarter.

Japanís population declined 0.17% to 127.3 million as of last October, according to the information released on the website of Internal Affairs Ministry.

People aged 65 or older now make up one fourth of the total and working age population (between the ages of 15 and 54 years) decreased to less than 80 million for the first time in 32 years.

The Nikkei 225 Stock Average climbed 420.87 or 3% to 14,417.68 and the Topix index jumped 30.46 or 2.7% to 1,166.55.

The yen eased to 102.23 against the U.S. dollar.

Stocks in Review

Toyota Motor Corp gained 123 yen to 5,523 yen. Honda Motor Co jumped 78 yen to 3,533 yen. Nissan Motor Co Ltd rose 1% to 911 yen.

Sony climbed 44 yen or 2.3% to 1,923 yen.

Softbank Corp surged 596 yen or 8.5% to 7,604 yen after Alibaba Group Holding Ltd., Chinaís largest e-commerce operator reported fifth consecutive quarterly profit. SoftBank controls approximately 37% in Alibaba.

Fast Retailing Co Ltd soared 1,290 yen or 3.9% to 33,950 yen.

J-COM Holdings Co., Ltd declined 4% to 717 yen after the personnel service provider lowered its net-income forecast 77% for the year ending in March and reduced its operating-profit to 76%.

Orix Corporation surged 5.8% to 1,417 after the financial services providerís president Makoto Inoue said the company plans to spend 150 billion yen on takeovers around the world in the next 12 months.

Inoue added it may acquire non-financial companies including solar producers and wind farm operators in the U.S.

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