Nikkei advances on hopes for monetary easing

Source: Dukascopy Bank SA
Most blue chips in the Nikkei 225 benchmark gauge edged higher amid speculation Japanese central banks will introduce more monetary easing to bolster the economic growth. However, firms depending on exports shrank, as the Yen climbed against its major counterparts. Taiyo Yuden Co., a ceramic-capacitor maker, jumped 9.2% to pace gains in industrial shares, as its stock rating was upgraded to buy at Jefferies. Among other top performers was Sumco Corp. that rose 6.7% to 1,009 yen, capping losses in technology group that was 0.1% down. Ebara Corp. followed with a 6.2% surge, adding to the 0.3% increase in industrials. Japanese papermakers mostly retreated. Oji Holdings Corp. skimmed 8.3% to 331 yen, as the biggest paper company in Japan was affected by Nippon Paper's statement which said the company might rise shipment-prices with April 21. Hokuetsu Kishu Paper Co and Nippon Paper Group also posted losses with their shares closing 5.5% and 5.1% lower, dragging down basic materials that erased 1.3%. Dai-ichi Life Insurance slid 5%, pacing losses in financials.
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Tue, 05 Mar 2013 11:25:04 GMT

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