LONDON (ShareCast) - The Nikkei rose on Monday after a surprisingly strong US jobs report and as a string of companies upped their profit forecasts. The benchmark Nikkei 225 (Osaka: ^N225 - news) index closed 97 points higher at 8,929 in Tokyo. Shares of Nikon Corp (Munich: 853326 - news) rose 11% in Tokyo after it raised its full year sales outlook by 7% because of increased demand for its digital cameras. Electronics maker Oki Electric (Berlin: OKI.BE - news) was another big riser, up 14%, as it raised its full year operating profit forecast by 13%. Other big name exporters including Canon (Other OTC: CAJFF.PK - news) moved ahead on hopes of increased sales to the US following the upbeat employment data. The camera maker rallied 1.6%. Sony (Stuttgart: 853687 - news) advanced 4% on hopes of increased demand from the US. Elsewhere plasma TV maker Panasonic (Other OTC: PCRFF.PK - news) bounced 6% after said profit should recover after it posted a record loss as it pushes forward plans to cut jobs and move output overseas. Among the losers was chip maker Tokyo Electron (Other OTC: TOELF.PK - news) , down over 8%, after it posted a near 50% decline in profit for the nine months ended 31 December from the same time a year earlier after it was hit by slower demand and disruption due to floods in Thailand. The Hang Seng settled 47 points lower at 20,709, reversing earlier gains as profit takers moved in on recent gains. Property stocks took a beating with shares of China Resources Land (Other OTC: CRBJF.PK - news) down 4% while China Overseas Land & Investment lost 2.4% in Hong Kong. Telecom (Stuttgart: 882336 - news) stocks also suffered significant selling with China Mobile (HKSE: 0941.HK - news) down 1.7% and China Unicom (HKSE: 0762.HK - news) hanging up 4.5%.
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