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Market Update

Nikkei Rebounds to Two-Month High and Yen at One-Month Low


Author: Hiruki Nakamura
ticker.com
Last Update: 1:05 PM ET October 23 2015

4:30 PM Tokyo Nikkei average shot up near two-month high and the yen declined to one-month low after the European Central Bank kept its easing bias. Exporters and financials led the gainers in a broad rally. Kao Corp rose on higher annual sales outlook.

Nikkei average shot up near 2-month high and the yen declined to a one-month low after the European Central Bank chief offered more monetary easing as early as December.

The accommodative stance from the ECB helped market to ease tensions and the market indexes shot up in Tokyo trading. Exporters and financials led the gainers.

The Nikkei 225 Stock Average jumped 389.43 or 2.1% to 18,825.30 and the broader Topix index increased 29.62 or 1.9% to 1,547.84.

For the week, Nikkei 225 soared 2.9%.

The yen strengthened to 120.39 against a dollar.

Stocks in Review

Kao Corporation gained 0.8% to 5,868 yen after the cosmetics, skin care and hair care products maker reported net sales in the nine-month ending in September advanced 5.5% from a year ago to 1.06 trillion yen.

Net income in the period surged 34.6% to 68.20 billion yen compared to 50.67 billion yen and earnings per share increased to 136.04 yen from 99.12 yen.

The company forecasted net sales for the year to jump 4.9% to 1.47 trillion yen and net income to soar 14.3% to 91 billion yen.

Kose Corporation jumped 4.3% to 11,840 yen after the cosmetic products maker lifted net sales forecast for the first-half ending in September to jump 4% to 115.40 billion yen from the earlier guidance of 111 billion yen.

Profit for the period is estimated to soar 41.6% to 10.90 billion from the previously estimated to 7.70 billion yen.

Mirait Holdings Corporation slid 0.09% to 1,138 yen after the engineering, electrical and construction services provider lowered revenue forecast for the first-half ending in September to drop 9.6% to 112 billion yen from the earlier estimate of 124 billion yen.

Net for the period swung to a loss of 1.25 billion from the earlier forecasted to profit of 3 billion yen.

Sumitomo Dainippon Pharma Co Ltd edged up 0.2% to 1,338 yen after the general drugs maker forecasted net sales for the first-half ending in September to edge up 0.7% to 198.90 billion yen from the previous estimate of 197.50 billion yen.

Net income for the period to jump 65% to 13.20 billion yen from the earlier forecast of 8 billion yen.

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