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Market Update

Nikkei in Tokyo Surges 1.6%, Toyota Lifts Global Sales Outlook

Author: Hiruki Nakamura
Last Update: 6:47 AM ET December 17 2015

4:30 PM Tokyo The Nikkei 225 average jumped 1.6% after trade deficit in November narrowed and the U.S. Fed raised its key lending rate. Toyota lifted 2016 global sales outlook by 1.1%. TDK plans to acquire Switzerland-based semiconductor designer.

Tokyo stocks jumped to a one-week high after the U.S. Federal Reserve announced the anticipated rate hike and the yen weakened against the dollar.

Investors also took note of the trade deficit decline, largely on the decline in the cost of the energy imports.

In November, the trade deficit narrowed to 379.7 billion yen from 379.7 billion a year ago, according to data released by the Ministry of Finance.

Exports declined 3.3% in November, but imports plunged 10.2% from the same month last year, the ministry said.

Toyota will invest 1 billion yen in Preferred Networks for the development of artificial intelligence in mobility-related fields.

TDK plans to acquire Switzerland-based Micronas Semiconductor for about 26.28 billion yen.

The Nikkei 225 Stock Average advanced 303.65 or 1.6% to 19,353.56 and the broader Topix index increased 23.99 to 1,564.71.

The yen fell against the dollar to 122.36.

Stocks in Review

3-D Matrix Ltd slipped 1.5% to 1,026 yen after the medical products maker said net sales in the first-half ending in October increased to 52 billion yen from a year ago.

Net loss in the period narrowed to 930 million yen compared to 1.15 billion yen and earnings per share slipped to 43.40 yen from 55.46 yen in the same period a year ago.

Toyota Motor Corp gained 1.2% to 7,703 yen after the automobile maker said it aims global sales of 10.11 million vehicles in 2016 together with its subsidiaries minicar maker Daihatsu Motor Co. and truck maker Hino Motors Ltd.

The forecast represents a 1% increase from the projected sales of 10.10 million vehicles in 2015.

In Japan, Toyota forecasts sales increase of 3% to 2.23 million vehicles in 2016, compared to the estimate 7% decline for 2015.

Sales in the U.S. are expected to remain strong, while sales in emerging markets are expected to decline next year.

Separately, Toyota decided to invest 1 billion yen in Preferred Networks, aiming to strengthen R&D of artificial intelligence technologies in mobility-related fields.

Toyota will receive stock in Preferred Networks through the allocation of new shares to a third party as of December 30, 2015.

TDK Corporation declined 4.1% to 8,040 yen after the company unveiled plans to acquire Switzerland-based Micronas Semiconductor Holding AG for about 26.28 billion yen in cash.

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