Japanese equities slid despite stimulus hopes

Source: Dukascopy Bank SA
© Scanpix/AP
Japanese shares inched down as corporate results continued to disappoint investors. Slight appreciation in the Yen pushed exporters down, thus adding to losses in the Nikkei. At the same time, hopes that the BoJ will significantly expand its stimulus programme on Tuesday's meeting boosted Japanese equities. The Nikkei 225 Index eased down 0.04% to close at 8,929.34. Five sectors moved higher. Basic materials were the top-performers, with Denki Kagaku Kogyo and Mitsubishi Materials climbing 1.23% and 0.44%. Nippon Sheet Glass advanced 3.3% on news that the company is likely to report a smaller than expected operating loss for the second quarter. Meanwhile, NEC Corp posted the largest gain in Nikkei 225. The firm soared 5.71% after announcing an operating profit of JPY47.4 billion for H1. At the same time, telecommunications and consumer goods were the weakest sectors in the index. NTT DoCoMo plunged 6.00% to attain the record low after cutting its full-year operating profit target by 9%.


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