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Market Update

Nikkei Tests 20,000 Mark, LCD Suppliers Fall

Author: Hiruki Nakamura
Last Update: 9:14 AM ET November 26 2015

4:30 PM Tokyo Nikkei in Tokyo tested 20,000 market but failed to cross and the benchmark index closed up at a three-month high. Suppliers of LCD panels traded lower after Apple is said to select organic panels for its iPhone devices. SoftBank scheduled to raise 370 billion yen in a bond offering next week.

Market averages in Tokyo closed higher in quiet trading with the U.S. market closed for Thanksgiving holiday.

The makers of LCD display panels traded lower after a Nikkei business daily reported that Apple Inc plans to introduce next version of organic light-emitting diode displays for its popular iPhones in 2018.

SoftBank issued its 48th unsecured straight corporate bond and plans to raise as much as 370 billion yen.

The Nikkei 225 Stock Average increased 96.83 or 0.5% to 19,944.41 and the broader Topix index rose 7.65 to 1,602.32.

The yen weakened to 122.57 against a dollar.

Stocks in Review

Raccoon Co Ltd gained 0.5% to 423 yen after the business services provider said net sales in the second-quarter ending in October jumped 8.1% from a year ago to 1.08 billion yen.

Net income in the quarter soared 23.2% to 2117 million yen compared to 95 million yen and diluted earnings per share rose to 6.45 yen from 5.16 yen in the same period a year ago.

SoftBank Group Corp slipped 0.8% to 6,535 yen after the communication services provider issued its 48th unsecured straight corporate bond and plans to raise as much as 370 billion yen at interest rate of 2.13% a year.

The subscription is scheduled to open tomorrow and end on December 9.

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