Japanese equities dropped on profit warnings

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Japanese equities retreated on Tuesday amid fears that corporate profits will be worse than expected as companies are slashing income forecasts. However, shares found support on optimism over eurozone and US. US ISM manufacturing PMI rose more than expected while Ben Bernanke promised to sustain stimulus. The Nikkei 225 Index slid 0.12% to end Tuesday's session at 8,786.05. A half of sectors within the index advanced. The biggest gains poised oil and gas companies as well as technology firms. Inpex and JX Holdings added 0.64% and 3.01% amid solid crude oil prices. Among technology companies, Trend Micro and NTT Data climbed 1.37% and 1.64%. Softbank jumped 2.90% after the company announced that it will acquire eAccess for USD1.84 billion. At the same time, financials and industrials moved lower. Bank of Yokohama and Chiba Bank dropped 1.34% and 0.87% while ITOCHU and Daikin Industries tumbled 0.75% and 0.51%.

 

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