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May 25, 2013

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Micron Associates: Japanese Shares Rise as Yen Weakens, C...

Source http://www.bloombe 9-02/japanese-shar es-advance-on-food -producers-paper-m akers.html Japanese shares rose, after the Topix (TPX) index last week posted its fourth straight monthly loss, as a weaker yen boosted carmakers and data signaled a recovery in domestic capital spending and Chinese manufacturing. Toyota Motor Corp., Asia’s biggest automaker, gained 1 percent. Fanuc Corp., a producer of industrial robotics that counts on Asia excluding Japan for half its revenue, climbed 2.7 percent after a gauge of China’s factory activity increased to a 16-month high. Consumer-finance company Aiful Corp. surged 18 percent on a report non-bank lending is recovering. Otsuka Holdings Co. slid 2.4 percent after Citigroup Inc. cut its investment outlook on the drugmaker. The Topix added 1.1 percent to 1,117.78 at the close of trading in Tokyo, with all but four of the 33 industry groups advancing. The measure fell 2.3 percent in August, capping its longest monthly losing streak since November 2008. The Nikkei 225 increased 1.4 percent today to 13,572.92. Japan’s currency weakened 0.8 percent to 98.93 against the greenback. “The yen at the 98-per-dollar level today is positive for stocks,” said Masaru Hamasaki, a senior strategist at Tokyo-based Sumitomo Mitsui Asset Management Co., which oversees about 11.2 trillion yen ($113 billion). “China’s PMI is also being taken positively, although whether it can last is questionable. Capital-spending data is supportive for an increase in Japan’s economic growth outlook, so that’s also a plus.” Futures on the Standard & Poor’s 500 Index climbed 0.7 percent today. The measure lost 0.3 percent on Aug. 30, capping its worst monthly drop since May 2012, as investors weighed prospects for a military response to an alleged chemical weapons attack in Syria and a less-than-forecast rise in consumer spending. U.S. markets are closed today for a holiday. China Manufacturing The official Purchasing Managers’ Index of Chinese manufacturing was at 51.0, beating analysts’ estimates. HSBC Holdings Plc and Markit Economics today released the final reading of a similar private gauge showing a level of 50.1. A reading above 50 denotes expansion. Fanuc gained 2.7 percent to 15,420 yen. Komatsu Ltd., a machinery manufacturer that gets about 8 percent of sales from China, climbed 0.9 percent to 2,175 yen. Mitsubishi Heavy Industries Ltd. (7011), which counts on Asia excluding Japan for 16 percent of its revenue, rose 2.8 percent to 554 yen. Related Article: http://online.wsj. com/community/grou ps/micron-associat es-blog-reviews-18 52/topics/micron-a ssociates-internet -scam-reviews http://www.slidesh icron-associates-m ikron-ordnet-vorau ssagen-behandlung- reaktion-im-zns-er krankungen-einfach e-methode-zur-verm eidung-von-gefhrli chen-nebenwirkunge n  (Sep 2, 2013 | post #1)