4:30 PM Tokyo – Nikkei average in Tokyo soared 2.9% after China reported smaller-than-expected decline in exports in December. The Bank of Japan said M2 and M3 money stock increased in December.
Stocks in Tokyo rebounded after the Nikkei plunged to a 3-month low in the previous session.
Market sentiment in Tokyo improved after China reported better-than-expected international trade data.
Shanghai Composite Index declined 2.4% after the index opened higher after the release of international trade data.
International trade surplus in 2015 soared 56.7% from a year ago to 3.69 trillion yuan or $562 billion, according to the customs agency.
Exports in December increased 2.3% from a year ago 1.43 trillion yuan but declined 1.4% in the U.S. dollar terms but improved from the 3.7% decline in November.
The total M2 money stock in December jumped 3% to 921.1 trillion yen from November, the Bank of Japan reported.
The M3 money stock in December increased 0.6% to 1,239.3 trillion yen compared to 1,232.2 trillion yen in the previous month.
The Nikkei 225 Stock Average soared 496.67 or 2.9% to 17,715.63 and the broader Topix index jumped 40.14 or 2.9% to 1,442.09.
The yen decreased against the U.S. dollar to 118.14.
Stocks in Review
Bic Camera Inc
jumped 4.1% to 1,015 yen after the electrical home appliances retailer said net sales in the first-quarter ending in November fell 1.7% from a year ago to 180.39 billion yen.
Net income in the period surged 48.4% to 2.07 billion yen compared to 1.39 billion yen and diluted earnings per share increased to 11.01 yen from 7.41 yen in the same period a year ago.
The home appliances retailer estimated net sales in the first-half to increase 3.4% to 407 billion yen and net income to jump 4.7% to 5.10 billion yen.
In the year, the company forecasted net sales to gain 3.1% to 820 billion yen and net income to soar to 73.4% to 11.80 billion yen.
Oriental Land Co., Ltd
soared 4.9% to 7,485 yen after the Nikkei daily said the theme parks and hotels operator’s net sales in the third-quarter ending in December to increase about 352.1 billion yen and operating profit of about 90 billion yen.
The Tokyo Disney Resort operator maintain its estimate of 4% drop in operating profit in the year to 106 billion yen but forecasted net profit of about 72.2 billion yen.
jumped 3.3% to 9,540 yen after the convenience stores operator reported net sales in the nine-month ending in November soared 20.2% from a year ago to 435.53 billion yen.
Net income in the period declined 4.5% to 31.47 billion yen compared to 32.95 billion yen and diluted earnings per share slumped to 314.48 yen from 329.27 yen in the same period a year ago.
The company forecasted net sales in the year to surge 16.3% to 579 billion yen and net income to jump to 7.7% to 35.20 billion yen.