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Market Update

Nikkei Gains 0.8%, Nissan Estimates Higher China Sales

Author: Hiruki Nakamura
Last Update: 11:26 AM ET December 06 2013

4:30 PM Tokyo Nikkei Stock Average in Tokyo gained 0.8% and investors focused on the Fed tapering as early as next month. Nissan Motor estimated China sales to increase 7.5% but Honda offered additional discounts to U.S. dealers.

Stocks in Tokyo traded higher and the Nikkei Stock Average is set to lead advanced countries market indexes in the year.

Ministry of Finance said foreign investors invested 368.7 billion yen into Japanese equity in the week through November and totaled 13.7 trillion yen year-to-date. That compared with 2.13 trillion yen for 2012.

The Nikkei 225 Stock Average gained 122.37 or 0.8% to 15,299.86 and the Topix rose 6.18 to 1,235.83.

For the week, Nikkei 225 declined 2.3% and gained 47.2% in the year so far, leading market indexes in the developed economies.

The yen closed at 102.14 against one dollar.

Stocks in Review

Toyota Motor Corp closed unchanged at 6,220 yen.

Nissan Motor Co Ltd slumped 32 yen to 880 yen and estimated December sales in China to increase 7.5% to 1.27 million units.

Honda Motor Co. jumped 50 yen to 4,245 yen after the car-maker offered to its dealer in the U.S. additional bonus of $3,000 for every vehicle sold above sales in the year ago month.

In November, approx $1,896 per car was spent by Honda as sales incentives. General Motors and Ford Motor Co. spent more than $3,300 per vehicle.

Sony gained 14 yen to 1,838 yen.

Softbank Corp rose 50 yen to 8,710 yen. Fast Retailing Co. gained 450 yen to 37,450 yen.

Advantest Corp climbed 6.1% to 1,297 yen after the Japan-based chip maker plans to cut costs to lower the break-even point and return to profit by March 2015.

Daihatsu Motor Co., Ltd slid 0.4% to 1,791 yen after the automobile company plans to recall 764,053 mini-vehicles from Japan to fix defects in transmission and engine systems.

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