Japan Trade Surplus Shrinks

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Author: 123jump.com Staff
123jump.com
Last Update: 5:24 PM EDT April 23 2008

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Stocks in Japan advanced spurred by rising crude oil prices on growing demand from China and supply constraints from Iraq and Nigeria. In Tokyo trading Nikkei 225 rose 0.23% or 31.34 to 13,579.16, and the broader Topix Index increased 0.2% or 2.93 at 1,314.39.Exports in March grew 2.3% from the same period a year ago compared with 8.7% rise in February. Imports in March surged 11.1% on rising oil and materials costs.

Company news

Aozora revised profit downwards

The Nikkei news reported today that Aozora Bank Ltd. slashed its group net profit outlook for the fiscal year ended March to 5 billion yen from its earlier forecast of 26.5 billion yen due to a significant decline in the value of its portfolio.

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