4:30 PM Tokyo – Nikkei average jumped more than 1% on a growing speculation that the Bank of Japan may offer additional stimulus. Market advance was also supported by the gains in Shanghai ahead of the gross domestic report. Adastria Co, the apparel retailer said sales in first-half jumped 10%.
Stocks in Tokyo closed notably higher following a rise in Shanghai in late trading and also on the growing speculation that the Bank of Japan may offer additional stimulus steps.
On the economic front, industrial output in August declined 1.2% from July, higher than the initially estimated to fall 0.5%, the Ministry of Economy, Trade and Industry said.
The Nikkei 225 Stock Average gained 194.90 or 1.1% to 18,291.80 and the broader Topix index increased 15.12 to 1,505.84.
For the week, Nikkei 225 jumped 3.1%.
The yen strengthened to 118.97 against a dollar.
Stocks in Review
Adastria Co., Ltd
declined 3.8% to 6,910 yen after the apparel retailer reported net sales in the first-half ending in August jumped 10.2% from a year ago to 97.03 billion yen.
Net in the quarter swung to profit 4.16 billion yen compared to a loss of 109 million yen and diluted earnings per share swung to 171.19 yen from diluted loss per share 4.51 yen.
The company forecasted net sales for the year to soar 7.3% to 198 billion yen and net income of about 6.80 billion yen.
Daiwa House REIT Investment Corporation
increased 2.4% to 457,500 yen after the real estate developer said net sales in the first-half ending in August soared 22.5% from a year ago to 6.31 billion yen.
Net income in the quarter surged 16.7% to 2.97 billion yen compared to 2.55 billion yen and earnings per share edged down to 8,657 yen from 8,673 yen.
The company forecasted net sales for the second-half to advance 10.1% to 6.95 billion yen and net income to jump 3.23 billion yen.
Shiseido Company, Limited
rose 0.3% to 2,759 yen after the cosmetics, toiletries, beauty products maker estimated net sales for the first-half ending in September of about 412 billion yen.
The company lifted net income forecast for the period to 4 billion yen from the previous estimate to 1.50 billion yen.
jumped 2.7% to 2,308 yen after the Nikkei daily said baby and feminine care products maker’s net sales for the nine-month period ending in September to surge 12% to 530 billion yen and group operating profit may steady at about 51.5 billion yen.
For the year, group operating profit to increase 13% to 86 billion yen.