6:00 PM Tokyo – Stocks in Tokyo rebounded on the hopes that the central banks in Europe and the U.S. will provide substantial new stimulus measures after political leaders in Europe failed to offer concrete steps in the near term. China focused companies declined after the latest profit estimate.
Stocks in Tokyo traded higher after a sharp fall in Friday’s session and on the expectations of additional stimulus measures from central banks in Europe and the U.S.
The latest data from China provided another signal that the economy is slowing and international trade growth may be falling at a faster pace than expected.
The National Bureau of Statistics said profit at Chinese industrial companies declined 5.4% to 366.8 billion yen or $57.7 billion in July. The decline was the fourth monthly decrease in a row.
The Nikkei 225 Stock Average increased 14.63 or 0.2% to 9,085.39, the highest since July 4. The broader Topix Index slid 1.86 to 755.37.
The yen eased to 78.84 against one dollar from 78.59 in Friday’s close.
Stocks in Review
FamilyMart Co Ltd, the convenience chain operator closed unchanged at 3,830 yen, Lawson decreased 10 yen to 6,060 yen and Seven & I Holdings Co slid 7 yen to 2,556 yen.
Honda Motor Co. lowered 4 yen to 2,612 yen and Nissan Motor Co Ltd up 2 yen to 767 yen.
Nippon Steel down 1 yen to 171 yen and JFE Holdings Inc closed unchanged at 1,072 yen. Tokyo Steel Manufacturing slumped 3.8% to 278 yen.
Canon Inc declined 15 yen to 2,718 yen and Seiko Epson Corp increased 13 yen to 559 yen and Ricoh Co Ltd up 2 yen to 627 yen. Sony Corp added 1 yen at 919.
Panasonic Corp gained 4 yen to 563 yen and Toshiba down 1 yen to 269 yen and Nikon climbed 11 yen to 2,244 yen. Sharp increased 5 yen to 197 yen. Sharp Corp increased 5 yen to 197 yen.
Olympus gained 4% to 1,562 yen after the troubled camera maker agreed to sell its mobile telecom subsidiary for 53 billion yen or $675 million to an investment fund to bolster capital.
Nintendo Co. Ltd jumped 60 yen at 8,950 yen, Fujitsu slid 0.9% to 326 yen and Pioneer Corp. advanced 9 yen to 215 yen.
Wacom Co Ltd, an electronics component supplier to Samsung Electronics Co decreased 5.3% after the company was found guilty of violating design patents controlled by Apple Inc.
Fanuc Ltd slipped 20 yen to 12,980 yen and Komatsu Ltd dropped 22 yen to 1,665 yen.
Hitachi Construction Machinery Co slumped 5 yen to 1,403 yen.
Yamada Denki decreased 5 yen to 4,080 yen. Nitori Holdings Co plummeted 50 cents to 7,750 yen, apparel retailer Shimamura climbed 40 yen to 9,270 yen and Sagami Co declined 7 yen or 5.15 to 129 yen.
Fast Retailing Co. gained 210 yen to 18,300 yen and J. Front Retailing Co. Ltd added 1 yen to 401 yen.
Kajima Corp slid 1 yen to 226 yen and Taisei Corp down 1 yen to 221 yen. Sekisui House Ltd increased 5 yen to 750 yen and Daito Trust Construction Co Ltd slipped 10 yen to 7,690 yen.
Tokyo Tatemono Co., Ltd lowered 1 yen to 278 yen and Mitsui Fudosan decreased 5 yen to 1,517 yen and Sumitomo Realty & Development Co. up 1 yen to 1,975 yen.
Kansai Electric Power Company, Inc dropped 37 yen or 5.3% to 660 yen after a report in Nikkei business daily said that the company is likely to trim its interim dividend for the first time in 25 years on the earnings uncertainty.
Inpex Corp down 0.2% to 467,000 yen and Japan Petroleum Exploration Co. advanced 20 yen to 3,120 yen.
Mitsui O.S.K. Lines, Ltd down 1 yen to 206 yen and Kawasaki Kisen Kaisha, Ltd slid 1 yen to 106 yen and Nippon Yusen K.K. up 1 yen to 170 yen.
Mitsubishi UFJ Financial Group slid 1 yen to 368 yen and Sumitomo Mitsui Financial Group decreased 9 yen to 2,498 yen. Nomura Holdings, Inc slipped 4 yen to 275 yen.
Tokio Marine dropped 23 yen to 1,920 yen and Mito Securities slipped 2.7% to 142 yen.
Credit Saison Co Ltd increased 14 yen to 1,850 yen.