4:30 PM Tokyo – Nikkei average in Tokyo rebounded after indexes in Shanghai and in Hong Kong jumped after Chinese regulatory steps. Machinery orders in Japan rose 0.6% in May following 3.8% increase in April. Fast Retailing said nine-month sales increased 24%.
Nikkei average in Tokyo rebounded following resurgent markets in Hong Kong and Shanghai and machinery orders in May rose more than expected.
The seasonally adjusted private-sector machinery orders in May jumped 0.6% to 907.6 billion yen followed by 3.8% increase in April, the Cabinet Office said today.
On a seasonally adjusted basis, total value of machinery orders in May declined 6.2% from the previous month.
M2 money stock in June climbed 3.8% to 908.7 trillion yen from upwardly revised 4.1% increase in May, the Bank of Japan reported.
The Nikkei 225 Stock Average gained 117.86 or 0.6% to 19,855.50 and the broader Topix index fell 2.59 to 1,579.89.
The yen closed at 121.37 against a dollar.
Stocks in Review
Fast Retailing Co Ltd
jumped 4.1% to 57,460 yen after the casual apparel retailer reported net sales in the nine-month ending in May soared 23.9% to 1.35 trillion yen from 1.09 trillion yen in a year ago period.
Net income in the quarter surged 51.5% to 132.36 billion yen compared to 87.34 billion yen and diluted earnings per share jumped to 1,296.99 yen from 859.29 yen in the same period a year ago.
The company forecasted net sales in the year to climb 19.3% to 1.65 trillion yen and net income to advance 61% to 120 billion yen.
dropped 2.4% to 2,439 yen after the food distributor said net sales in the second-quarter ending in May increased 3.6% to 282.90 billion yen from 272.98 billion yen in a year ago period.
Net income in the quarter climbed 58.3% to 9.77 billion yen compared to 6.17 billion yen and earnings per share rose to 64.38 yen from 41.24 yen in the same period a year ago.
For the year, the company forecasted net sales to jump 3.5% to 573 billion yen and net income to soar 18.2% to 15.80 billion yen.
declined 2.1% to 386.30 yen after the Nikkei business daily reported diversified industrial conglomerate plans to generate about 200 billion yen or $1.7 billion through the assets sales, including part of its stake in Westinghouse nuclear power unit.
The Nikkei added the company found accounting irregularities in almost all business segments, including semiconductors.
The Nikkei report also noted that the industrial conglomerate is in talk with banks for credit up to 600 billion yen or $4.9 billion, however company spokesman Hirokazu Tsukimoto declined to comment.