Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Indices  >  Nikkei 225    N225   JP9010C00002

NIKKEI 225

(N225)
SummaryQuotesChartsNewsHeatmapComponents 
News SummaryAll newsNews of the components of

Nikkei edges up as Fast Retailing jumps; Yaskawa's earnings drag on machinery stocks

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/12/2019 | 02:43am EDT
A man stands in front of an electronic board showing the Nikkei stock index outside a brokerage in Tokyo

TOKYO (Reuters) - Japan's Nikkei edged higher in choppy trade on Friday, helped by index heavyweight Fast Retailing, but weak profits from some firms such as Yaskawa Electric dragged on machinery stocks.

In afternoon trade, virtual currency exchange operator Remixpoint Inc started tumbling and ended 19% lower after saying it had detected an improper leak of virtual currency worth around 3.5 billion yen.

The Nikkei share average <.N225> ended 0.2% higher at 21,685.90 points. For the week, it fell 0.3%, its first such drop in six weeks.

Fast Retailing jumped 3.2% and contributed a hefty 79 points to the Nikkei. The operator of Uniqlo clothing stores posted a smaller-than-expected quarterly profit, but said full-year results were on track to reach a record high.

However, the broader Topix shed 0.2% to 1,576.31. Declining issues outnumbered advancing ones 1,356 to 703.

As Japanese markets will be closed for a holiday on Monday, investors refrained from taking large positions, analysts said.

They said that the market will likely focus on quarterly earnings results from U.S. and Japanese companies next week.

On Thursday, Yaskawa Electric, a motion control equipment maker with exposure in China, kicked off the earnings season and reported a 58% fall in its operating profit for the March-May quarter. That caused its stock price to fall 3.9% on Friday. Yaskawa's results are monitored closely by investors as the firm is seen as an indicator of Chinese demand.

"As the market has already priced in a U.S. rate cut this month and there are few other major macro events in the near future, the next focus is whether there are further U.S. rate cuts for the rest of the year," said Takuya Takahashi, a strategist at Daiwa Securities.

Takahashi said investors are keen for clues on business sentiment and will look to company earnings for direction.

Yaskawa's weak results took a toll on other machinery stocks. Fanuc Corp dropped 2%, Keyence Corp shed 1.5% and SMC Corp sank 2.4%.

Convenience store Lawson Inc jumped 4.6% after its first-quarter operating profit rose 12.4%, thanks to strong sales from upscale supermarket chain Seijo Ishii Co which Lawson had acquired.

(Editing by Kim Coghill)

By Ayai Tomisawa

Stocks mentioned in the article
ChangeLast1st jan.
FANUC CORP 2.30% 18875 End-of-day quote.17.42%
FAST RETAILING CO LTD -0.35% 68440 End-of-day quote.26.51%
KEYENCE CORPORATION -0.97% 65240 End-of-day quote.22.04%
LAWSON INC 2.10% 5360 End-of-day quote.-21.06%
NIKKEI 225 -0.23% 21416.79 Real-time Quote.5.15%
REMIXPOINT, INC. -3.60% 268 End-of-day quote.-29.66%
SMC CORP 3.77% 40470 End-of-day quote.25.49%
YASKAWA ELECTRIC CORP 3.35% 3550 End-of-day quote.38.51%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on NIKKEI 225
08:29pEasing hopes prop up global stocks, pound sags as Britain eyes new PM
RE
11:02aWeekly market update : The Fed holds the key to a peaceful summer
10:34aASIA MARKETS: Asian Shares Mostly Fall As New Stock Market Debuts In Shanghai
DJ
07/19Correction to stocks end the week lower
DJ
07/19WALL STREET STOCK EXCHANGE : Stocks End Week Lower as Fed Signals Small Rate Cut
DJ
07/19MARKET SNAPSHOT: Stocks Close Lower As Fed Seen Signaling Only Modest Rate Cu..
DJ
07/19WALL STREET STOCK EXCHANGE : Stocks End Week Lower as Fed Signals Small Rate Cut
DJ
07/19WALL STREET STOCK EXCHANGE : U.S. Stocks Pare Back as Fed Signals Small Rate Cut
DJ
07/19TODAY'S LOGISTICS REPORT : Raising Railroad Efficiency; Bulking Up Rates; Amazon..
DJ
07/19TRACKINSIGHT : Ups and downs for Japanese Stocks
TI
More news
News of the components of NIKKEI 225
08:55pNOW AVAILABLE : Long-Life Work Roll Bearings for Rolling Mills
PU
02:27pMITSUI : Texas petrochemical facility fire creates millions of waste
AQ
11:31aSUMITOMO CORPORATION : Implementing Workstyle Transformation 2019
AQ
11:31aNISSAN MOTOR : LEAF goes on sale in Latin America's biggest markets; 100% electr..
AQ
11:31aNISSAN MOTOR : Happy 50th anniversary of the moon landing from Nissan; 10 techno..
AQ
11:16aNTT DATA : Becomes a Google Cloud Premier Partner
BU
10:14aSHIONOGI : Notice of Completion of Disposal of Treasury Shares as Restricted Sto..
AQ
More news
Chart NIKKEI 225
Duration : Period :
Nikkei 225 Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NIKKEI 225
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Heatmap :