Japanese stocks had a rise on Friday in broad-based buying which is driven by expectations that the companies will make healthy profits and issue upbeat forecasts in the coming days as corporate earnings reports start to roll in .The Nikkei 225 Index .N225 rose 0.43% to 29,837.54.
The Industrial robot and the semiconductor manufacturing equipment maker Yaskawa Electric Corp 6506.T is scheduled to release its earnings report on Friday. The Shares of it rose by 0.34%.
Analysts said this could set the tone for Japan’s industrial sector, which is expected to benefit from a rebound in global capital expenditure and rising investment to ease a shortage in semiconductors. Junichi Inoue, head of Japanese equities at Janus Henderson Investors, said that “This is just the beginning of the (equities) cycle.” “This is going to be capex-driven and a bigger cycle than previously. Japanese companies are very strong in capital equipment. In general, the machinery sector should benefit.”
Elsewhere, Japan’s industry minister said on Friday that there was no truth to a media report that the government was claiming for a 2030 greenhouse gas (GHG) emissions reduction of 45% from fiscal year 2013 levels, against the current 26% target.
“The medium-term target for 2030 is still being discussed in light of the long-term goal of becoming carbon neutral by 2050,” Industry Minister Hiroshi Kajiyama told a news conference. “It’s the government’s plan to announce an ambitious goal by COP26 in November and there is no truth that the government has finalised any specific figures as reported in the media.”
On the other hand, Yesterday, the U.S. reported that Initial Jobless Claims increased from 728,000 (revised from 719,000) to 744,000 compared to analyst consensus of 680,000. Continuing Jobless Claims declined from 3.75 million (revised from 3.79 million) to 3.73 million compared to analyst consensus of 3.65 million.
USD/JPY 4 Hour Chart:
Latest
Popular
Trending
Archives
Search
Top Tags