PT Solid Gold Berjangka | Japanese Equities Edge Higher as Yen Weakens on US Data
Nikkei 225 Saham Jepang indeks Topix PT SGB Solid Gold Berjangka Solid Group SG Berjangka
Solid Gold Berjangka | Japanese stocks rose as exporters climbed after solid US factory data pushed the yen toward a 34-year low against the dollar.
Topix was virtually unchanged at 2,721.57 as of 9:02 a.m. Tokyo time.
Nikkei 225 advanced 0.1% to 39,856.99.
Electric appliance makers and automobile companies were some of the biggest contributors to the Topix’s gain after the yen fell as much as 0.3% to 151.77 per dollar Monday. US factory activity unexpectedly expanded in May, reinforcing bets the Federal Reserve will take its time in lowering interest rates.
“While yesterday’s profit-taking and short-term selling may have somewhat damped investor sentiment, there is some willingness to buy into stocks as the Nikkei is below 40,000,” said Ryuta Otsuka, a strategist at Toyo Securities. “Early period profit-taking is expected to end this week, after which the focus will shift to corporate earnings results in Japan and the US.”
Yaskawa Electric is due to announce full-year results this week. Many Japanese companies are expected to unveil their medium-term, typically three-year, business plans together with earnings.
Out of 2,146 stocks in the Topix, 683 rose and 1,207 fell, while 256 were unchanged.
Source : Bloomberg