4:30 PM Tokyo – Topix Index, the broader Japanese equity market index closed at a six-year high and the yen deepened losses in the year. The Nikkei 225 Stock Average soared 2.1%, the highest close since 2007.
Market indexes in Japan soared and extended ten-day gains and the Prime Minister Shinzo Abe may dissolve parliament and ask for snap elections and strengthen party’s control.
The Bank of Japan said total bank lending in October climbed 2.4% compared to 2.3% increase in September.
The Nikkei 225 Stock Average climbed 343.58 or 2.1% to 17,124.11 and the broader Topix index jumped 15.10 or 1.1% to 1,375.21.
The yen closed at 115.41 against one dollar.
Prime Minister Shinzo Abe may call snap election next month and may decide to postpone the planned sale-tax increase to 10% next year.
Stocks in Review
dropped 1.8% to 3,757.50 yen after the tire maker reported net sales in the nine-month ending in September increased 2.3% to 2.67 trillion yen from 2.61 trillion yen a year ago period.
Net income in the quarter climbed 15.2% to 225.67 billion yen compared to 195.86 billion yen and diluted earnings per share jumped to 287.83 yen from 249.91 yen in the same period a year ago.
Citizen Holdings Co., Ltd
soared 11.5% to 846 yen after the watch maker lifted full-year profit forecast by 12% to 18.5 billion yen from a year ago period.
surged 7.6% to 1,171 yen after the construction engineering reported net sales in the second-quarter ending in September jumped 3.7% to 207.17 billion yen from 199.73 billion yen a year ago period.
Net income in the quarter plunged 20.4% to 5.90 billion yen compared to 7.41 billion yen and earnings per share declined to 22.76 yen from 28.60 yen in the same period a year ago.
Mitsubishi Materials Corp
jumped 2.6% to 352 yen after the construction material maker reported net sales in the first-half ending in September climbed 6.8% to 751.19 billion yen from 703.69 billion yen a year ago period.
Net income in the quarter plummeted 20.5% to 23.24 billion yen compared to 29.24 billion yen and earnings per share slipped to 17.73 yen from 22.31 yen in the same period a year ago.
Nitto Denko Corporation
gained 0.8% to 6,125 yen after the packaging machinery maker said net sales in the first-half ending in September soared 7.8% to 393.52 billion yen from 365.12 billion yen a year ago period.
Net income in the quarter surged 31.2% to 30.56 billion yen compared to 23.29 billion yen and diluted earnings per share increased to 184.84 yen from 140.88 yen in the same period a year ago.
fell 0.1% to 2,879 yen after the flexible circuit boards maker stated net revenue in the first-quarter ending in September slumped 8.4% to 39.24 billion yen from 42.83 billion yen a year ago period.
Net income in the quarter tumbled 59.3% to 1.36 billion yen compared to 3.34 billion yen and diluted earnings per share dropped to 21.59 yen from 43.75 yen in the same period a year ago.
Resona Holdings Inc
rose 0.7% to 660.90 yen after the banking and financial service provider said revenues in the first-half in the increased 2.4% to 439.55 billion yen from 429.21 billion yen a year ago period.
Net income in the period climbed 8.7% to 132.70 billion yen compared to 122.07 billion yen and diluted earnings per share jumped to 52.81 yen from 35.81 yen in the same period a year ago.