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Copyright 2008 Reuters en-us Wed, 19 Jun 2013 05:38:07 -0400 5 /resources/images/mobile/small/logo.png 120 35 http://mobile.reuters.com/category/tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL5N0EV0CV20130619?feedType=RSS&feedName=tokyoMktRpt * Nikkei rises 1.8 pct, Topix up 1.9 pct * Japan stocks fwd P/E falls to level not seen since BOJ action * SoftBank gains after Dish says abandons Sprint bid * TEPCO sinks, says finds highly toxic strontium in Fukushima groundwater By Dominic Lau TOKYO, June 19 (Reuters) - Japan's Nikkei average hit a one-week high on Wednesday, with traders citing the launch of a near $780 million investment trust as a driving factor, while SoftBank Corp rose as it looked likely to win the battle for Sprint Nextel. The Nikkei ended 1.8 percent higher at 13,245.22 points, its highest since June 12 and closing above the bottom of the Ichimoku cloud in a bullish sign. SoftBank, which is trying to take control of Sprint , was the top-weighted gainer in the Nikkei, up 4.2 percent after U.S. Dish Network Corp said it would not make a new offer to buy Sprint. "There is a trust set up today with 74.2 billion yen ($776 million) accumulated ... buying Topix 100 excluding financials," a senior trader at a foreign bank said, explaining the stronger market. The Topix 100 rose 2 percent. The trust is being launched by Daiwa. Banks were also in demand after their recent battering, with Sumitomo Mitsui Financial Group up 5.2 percent and Mitsubishi UFJ Financial Group adding 2.4 percent. The broader Topix index gained 1.9 percent to 1,106.57, with 2.81 billion shares changing hands, up from a near six-month low of 2.43 billion shares hit on Tuesday but sharply below this year's daily average of 3.88 billion. Tokyo Electric Power Co, which was the most traded stock on the main board by turnover, sagged 3.9 percent after the utility said high levels of toxic strontium-90 have been found in groundwater at the Fukushima nuclear power plant, which was crippled by the March 2011 earthquake and tsunami. Investors are looking to the U.S. Federal Reserve to clarify the outlook on its massive stimulus when it ends a two-day policy meeting later in the day. Global markets have been roiled since Fed Chairman Ben Bernanke suggested last month that the stimulus could be reduced in coming months if the economy continued to recover. The Nikkei has lost 17 percent since hitting a 5-1/2 year peak on May 23 on concerns over Fed stimulus as well as slowing growth in China, Japan's second-largest export market, and disappointment over Prime Minister Shinzo Abe's growth strategy to revive the economy. It entered a bear market last week after dropping more than 20 percent from that multi-year high. With the recent sell-off, fund managers' appetite for Japanese equities have cooled somewhat. A monthly survey of asset managers by Bank of America Merrill Lynch showed investors' net overweight of Japanese stocks eased to 17 percent from 31 percent in May. "ATTRACTIVE AGAIN" Societe Generale, however, said the Nikkei was "attractive again" after the 20 percent correction. "Neighbouring markets like Korea, China or Taiwan should suffer as attractiveness relative to Japan has diminished," it said. Although some unloading of long Nikkei positions by hedge funds occurred in April and May, overall their net long positions have kept up at high levels, SG's Arthur van Slooten said. Japanese equities' 12-month forward price-to-earnings ratio fell from a three-year high of 16.3 reached three weeks ago to 13.6, a level not seen since early April, when the Bank of Japan unveiled sweeping stimulus measures to spur growth, according to Thomson Reuters Datastream. The benchmark Nikkei is still up 7 percent since April 4, and has risen 27 percent so far this year. "Japan appears to be benefiting more strongly and quickly than expected from the government and central bank's monetary and fiscal stimulus," ABN AMRO Private Banking wrote in a report. "We focus on sectors and stocks with low valuations and restored profitability. This includes the auto industry, as it rolls out next-generation car models and benefits from contributions from key export markets." Wed, 19 Jun 2013 02:49:05 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL5N0EV0CV20130619?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EV17G20130619?feedType=RSS&feedName=tokyoMktRpt TOKYO, June 19 (Reuters) - Japan's Nikkei hit a one-week high on Wednesday, with traders citing the launch of a near $780 million investment trust as a driver, while SoftBank Corp rose as it looked likely to win the battle for Sprint Nextel. SoftBank, which is trying to buy Sprint, was the top-weighted gainer in the Nikkei, up 4.2 percent after Dish said it would not make a new offer for Sprint. The Nikkei ended 1.8 percent higher at 13,245.22, reaching its highest since June 12 and closing above the bottom of the Ichimoku cloud in a bullish sign. The broader Topix index climbed 1.9 percent to 1,106.57, ahead of the outcome of the U.S. Federal Reserve's two-day policy meeting, which will give further indication whether it will soon scale back its stimulus. Wed, 19 Jun 2013 02:13:52 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EV17G20130619?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EV0JJ20130619?feedType=RSS&feedName=tokyoMktRpt * Investors still cautious ahead of Fed outcome * Softbank soars after Dish abandons Sprint bid * Tepco tumbles as highly toxic substance found at plant By Ayai Tomisawa TOKYO, June 19 (Reuters) - Japan's Nikkei share average rose to a one-week high on Wednesday morning, underpinned by optimism that the U.S. Federal Reserve would temper worries about an imminent roll back of its stimulus programme. The market also got a boost from Softbank Corp, which soared after Dish Network Corp said it would abandon a bid for Sprint Nextel. Exporters rose as the dollar stayed above 95 yen, with Honda Motor Co adding 1.3 percent, Canon Inc advancing 1.7 percent and Toshiba Corp climbing 1.9 percent. Softbank, which is trying to buy U.S. wireless provider Sprint, soared 3.8 percent and was the third most traded stock by turnover after Dish Network said it would not make a new offer to buy Sprint and will instead focus on its tender offer for Clearwire Corp. The Nikkei rose 1.3 percent to 13,169.97 by the midday break after hitting a one-week high of 13,296.62 earlier. "Speculations about the Fed's decision are still keeping investors on the sidelines, so volume may be low. But Wall Street's optimistic stance on the Fed outcome is serving as a tailwind to Japanese stocks," said Yutaka Miura, a senior technical analyst at Mizuho Securities. Investors are looking to the Fed to clarify the outlook on its massive stimulus programme when it ends its two-day policy meeting on Wednesday. Global markets have been roiled since Fed Chairman Ben Bernanke suggested last month that the stimulus could be reduced in coming months if the economy continued to recover. While bargain hunting kept 29 of 33 Topix subsectors in positive territory, the utility sector dropped 1.2 percent and was the worst sectoral performer after Tokyo Electric Power Co nosedived 6.7 percent. The company said it had found high levels of toxic strontium in groundwater at the devastated nuclear plant in Fukushima. The Topix gained 1.2 percent to 1,098.88. With some technical signs showing that Japanese stocks are oversold, investors scooped up bargains. But market players said that investors may not want to take big positions until there is more clarity on the Fed's outlook for its stimulus. "It's merely a technical rebound," said Mitsushige Akino, chief fund manager at Ichiyoshi Asset Management. He said that with the market still vulnerable to selling, "most investors want to see the outcome before they take long positions." The Japanese market has seen extreme volatility accompanied by steep declines over the past few weeks as investors cut their long Japanese equities and short yen positions on worries of reduced stimulus from the Fed. Disappointment over an underwhelming package of structural reforms unveiled by the Japanese government recently and worries over slowing growth in China also contributed to the market tumult. The benchmark Nikkei, which slumped into bear market territory last week, has fallen 17 percent since reaching the mulityear high on May 23. It is still up 6.5 percent since April 4, when the Bank of Japan unveiled sweeping stimulus measures and has risen 27 percent this year. Tue, 18 Jun 2013 22:50:39 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EV0JJ20130619?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EV0BX20130619?feedType=RSS&feedName=tokyoMktRpt * Investors still cautious ahead of Fed * Softbank soars after Dish abandons Sprint bid By Ayai Tomisawa TOKYO, June 19 (Reuters) - Japan's Nikkei share average rose to a one-week high on Wednesday, helped by optimism that the U.S. Federal Reserve would temper worries about an imminent roll back of its stimulus programme. The market also got a boost from Softbank Corp, which soared after Dish Network Corp said it would abandon a bid for Sprint Nextel. Exporters rose as the dollar stayed above 95 yen, with Toyota Motor Corp advancing 1.2 percent, Honda Motor Co adding 2.0 percent and Panasonic Corp tacking on 1.0 percent. Softbank, which is trying to buy U.S. wireless provider Sprint, soared 5.3 percent and was the most traded stock by turnover after Dish Network said it would not make a new offer to buy Sprint and will instead focus on its tender offer for Clearwire Corp. The Nikkei rose 1.9 percent to 13,247.81 in midmorning trade after rising to a one-week high of 13,296.62. "Speculations about the Fed's decision are still keeping investors on the sidelines, so volume may be low. But Wall Street's optimistic stance on the Fed outcome is serving as a tailwind to Japanese stocks," said Yutaka Miura, a senior technical analyst at Mizuho Securities. Investors are looking to the Fed to clarify the outlook on its massive stimulus programme when it ends its two-day policy meeting on Wednesday. Global markets have been roiled since Fed Chairman Ben Bernanke suggested last month that the stimulus could be reduced in coming months if the economy continued to recover. The Topix gained 2.0 percent to 1,107.66. With some technical signs showing that Japanese stocks are oversold, investors scooped up bargains. But market players said that investors may not want to take big positions until there is more clarity on the Fed's outlook for its stimulus. "It's merely a technical rebound," said Mitsushige Akino, chief fund manager at Ichiyoshi Asset Management. He said that with the market still vulnerable to selling, "most investors want to see the outcome before they take long positions." The Japanese market has seen extreme volatility accompanied by steep declines over the past few weeks as investors cut their long Japanese equities and short yen positions on worries of reduced stimulus from the Fed. Disappointment over an underwhelming package of structural reforms unveiled by the Japanese government recently and worries over slowing growth in China also contributed to the market tumult. The benchmark Nikkei, which slumped into bear market territory last week, has fallen 16.9 percent since reaching the mulityear high on May 23. It is still up 7.3 percent since April 4, when the Bank of Japan unveiled sweeping stimulus measures and has risen 28 percent this year. Tue, 18 Jun 2013 21:49:21 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EV0BX20130619?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EV00Q20130619?feedType=RSS&feedName=tokyoMktRpt TOKYO, June 19 (Reuters) - Japan's Nikkei share average rose to a one-week high on Wednesday, helped by a second-straight day of gains on Wall Street as investors bet that the Federal Reserve would temper worries about an imminent roll back of its stimulus programme. The Nikkei rose 2.0 percent to 13,265.53, while the Topix gained 2.1 percent to 1,108.60. Tue, 18 Jun 2013 20:07:17 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EV00Q20130619?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EU42520130618?feedType=RSS&feedName=tokyoMktRpt TOKYO, June 19 (Reuters) - Japan's Nikkei share average is expected to rise to a one-week high on Wednesday, helped by a second-straight day of gains on Wall Street as investors bet that the Federal Reserve would temper worries about an imminent roll back of its stimulus programme. Market players said the Nikkei was likely to trade between 13,000 to 13,350 on Wednesday, after dropping 0.2 percent to 13,007.28 on the previous day. Nikkei futures in Chicago closed at 13,210, up1.6 percent from the close in Osaka of 13,000. Analysts said that the yen's weakness against the dollar will also be a positive factor for exporters. The dollar rose to 95.43 yen on Tuesday, having hit a two-month low of 93.78 yen on Thursday. "Speculations about the Fed's decision are still keeping investors on the sidelines, so volume may be low. But Wall Street's optimistic stance on the Fed outcome is serving as a tailwind to Japanese stocks," said Yutaka Miura, a senior technical analyst at Mizuho Securities. The Japanese market has seen extreme volatility accompanied by steep declines over the past few weeks as investors cut their long Japanese equities and short yen positions on worries of reduced stimulus from the Fed. Disappointment over an underwhelming package of structural reforms unveiled by the Japanese government recently and worries over slowing growth in China also contributed to the market tumult. Markets are looking to the Fed to clarify the outlook on its massive stimulus programme when it ends its two-day policy meeting on Wednesday. Global markets have been roiled since Fed Chairman Ben Bernanke suggested last month that the stimulus could be reduced in coming months if the economy continued to recover. The benchmark Nikkei, which slumped into bear market territory last week, has fallen 18 percent since reaching the mulityear high on May 23. It is still up 5.2 percent since April 4, when the Bank of Japan unveiled sweeping stimulus measures and has risen 25 percent this year. > Wall St extends rise, investors see no change in Fed policy > Dollar gains on yen ahead of Fed; euro gains on data > U.S. bond prices steady before Fed policy meeting > Gold down more than 1 pct on Fed jitters, equities gain > Oil gains moderately, trading sluggish ahead of Fed STOCKS TO WATCH --Toshiba Corp Toshiba plans to cut about 10 billion yen ($104 million) in costs this fiscal year by reorganizing its network of television factories in Indonesia, China and Poland, the Nikkei said, citing company sources. --Astellas Pharma Inc Astellas is looking to sell its dermatology portfolio, which could be worth between $500 million and $1 billion, according to three people familiar with the situation. Tue, 18 Jun 2013 19:33:21 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EU42520130618?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EU18S20130618?feedType=RSS&feedName=tokyoMktRpt * Nikkei falls 0.2 pct, Topix up 0.2 pct * Volume lowest since Dec as market focused on Fed outcome * Sony rises after hedge fund ups stake, presses spin-off By Ayai Tomisawa TOKYO, June 18 (Reuters) - Japan's Nikkei average edged down in choppy trade but managed to end above 13,000 on Tuesday, with most players staying on the sidelines as they awaited the outcome of the U.S. Federal Reserve's meeting for clues on when it may begin tapering back stimulus. The Nikkei slipped 0.2 percent to 13,007.28 points after trading as high as 13,139.48 earlier. Exporters were mixed, with Toshiba Corp rising 1.1 percent, while Panasonic Corp dropped 0.5 percent and Toyota Motor Corp rose 1.8 percent. Sony Corp climbed 4.4 percent after New York-based hedge fund company Third Point said it had raised its stake in the Japanese firm and asked for an opportunity to present its proposal for a partial spin-off of Sony's entertainment unit to the board. The Japanese market has seen extreme volatility accompanied by steep declines over the past few weeks as investors cut their long Japanese equities and short yen positions on worries of reduced stimulus from the Fed. Disappointment over an underwhelming package of structural reforms unveiled recently and worries over slowing growth in China also contributed to the market tumult. The index slumped into bear market territory to reach a low of 12,415.85 last Thursday, a level last seen before the Bank of Japan announced sweeping monetary easing steps on April 4, falling more than 20 percent from a 5 1/2-year high hit on May 23. Markets are looking to the Fed to clarify the outlook on its massive stimulus programme when the U.S. central bank concludes its two-day policy-setting meeting on Wednesday. "The market is assuming that he (Fed Chairman Ben Bernanke) won't be announcing anything drastic that would shock the market" given how sensitive they have become to comments on policy, said Fujio Ando, a strategist at Chibagin Securities. "Investors are not overly worried, but they are still careful about taking positions because of recent volatility in the market." Underscoring the volatility, since May 23 the Nikkei has had 15 sessions where intraday swings exceeded 2.5 percent, compared with 16 such trading days for the year up to May 22 and four such days in the whole of 2012. The U.S. S&P 500 only has had one such trading day in 2013, and the Euro STOXX 50 index has 11. Some analysts expect the Fed policy outlook may become clearer in coming months. "Tapering the stimulus by small increments is possible... But the Fed won't likely do so unless the U.S. economy shows a steady recovery, and a test period will be June-August," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley. The broader Topix gained 0.2 percent to 1,086.40. Volume was light, with only 2.43 billion shares changing hands, the lowest since last December. BNP Paribas remained bullish on Japanese equities in the medium term. "We have witnessed an improvement in fundamentals (as confirmed during the Q1 earnings) and thus believe the recent correction provides a good entry opportunity for the medium term," it wrote in a note to clients. The brokerage recommended investors sell put options on Toyota Motor Corp, lender Sumitomo Mitsui Financial Group, Toshiba Corp and Fujifilm Holdings Corp with September expiry to take advantage of high implied volatility. The benchmark Nikkei has fallen 18 percent since that mulityear high on May 23, but is still up 5.2 percent since April 4, when the Bank of Japan unveiled sweeping stimulus measures and has risen 25 percent this year. Tue, 18 Jun 2013 03:26:53 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EU18S20130618?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EU19M20130618?feedType=RSS&feedName=tokyoMktRpt TOKYO, June 18 (Reuters) - Japan's Nikkei average edged down in choppy trade but managed to end above 13,000 on Tuesday, with most investors on the sidelines awaiting the outcome of the U.S. Federal Reserve's meeting for clues on when it may begin tapering back stimulus. The Nikkei slipped 0.2 percent to 13,007.28 points after trading as high as 13,139.48 earlier. The broader Topix gained 0.2 percent to 1,086.40. Volume was light, with only 2.43 billion shares changing hands, the lowest since last December. Tue, 18 Jun 2013 02:14:52 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EU19M20130618?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EU0N220130618?feedType=RSS&feedName=tokyoMktRpt * Nikkei falls 0.7 pct, Topix down 0.3 pct * Trading remains volatile as focus turns to Fed outcome * Sony rises after hedge fund ups stake, presses spin-off By Dominic Lau TOKYO, June 18 (Reuters) - Japan's Nikkei average reversed early gains on Tuesday, underscoring the volatility that has roiled the market lately, as investors awaited the outcome of a Federal Reserve meeting for clues on whether it will continue to support the U.S. economy. By the midday break, the Nikkei slipped 0.7 percent to 12,941.80 after trading as high as 13,139.48. It climbed 2.7 percent on Monday, lifting the index out of a bear market. "There was no reason to be bullish this morning, other than a couple of reverse trades," a Tokyo-based trader said. "Volatility is ongoing and we will have this kind of days until the (upper house) election in July ... People are also looking at the FOMC." Markets are looking to the Fed to clarify the outlook on its massive stimulus programme when the U.S. central bank concludes its two-day policy-setting meeting on Wednesday. Many investors have been cutting their long Japanese equities and short yen positions on concerns that the Fed will scale back its stimulus this year and after the Nikkei had rallied more than 80 percent from mid-November to its 5-1/2 year peak hit on May 23. Since then, trading in Japanese equities has been extremely volatile. Disappointment over a growth strategy unveiled by the Japanese government recently and worries over slowing growth in China have also contributed to the market tumult. Underscoring the volatility, since May 23 the Nikkei has had 15 sessions where intraday swings exceeded 2.5 percent, compared with 16 such trading days for the year up to May 22 and four such days in the whole of 2012. The U.S. S&P 500 only has had one such trading day in 2013, and the Euro STOXX 50 index has 11. Sony Corp climbed 4.5 percent on Tuesday after New York-based hedge fund company Third Point said it had raised its stake in the Japanese firm and asked for an opportunity to present its proposal for a partial spin-off of Sony's entertainment unit to the board. It was the most traded stock on the main board by turnover. The broader Topix index eased 0.3 percent to 1,081.58, with volume at 34 percent of its full daily average for the past 90 trading days. "We have witnessed an improvement in fundamentals (as confirmed during the Q1 earnings) and thus believe the recent correction provides a good entry opportunity for the medium term," BNP Paribas wrote in a note. The brokerage recommended investors sell put options on Toyota Motor Corp, lender Sumitomo Mitsui Financial Group, Toshiba Corp and Fujifilm Holdings Corp with September expiry to take advantage of high implied volatility. Toyota was up 0.7 percent and the second-most traded, while Toshiba gained 1.3 percent and Fujifilm added 0.7 percent. Sumitomo Mitsui Financial Group dropped 1.4 percent, a slightly bigger drop than the 1 percent fall in the banking sector . The benchmark Nikkei has fallen 19 percent since that mulityear high on May 23, but is still up 4.5 percent since April 4, when the Bank of Japan unveiled sweeping stimulus measures and has risen 24.5 percent this year. Mon, 17 Jun 2013 23:00:21 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EU0N220130618?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EU08F20130618?feedType=RSS&feedName=tokyoMktRpt * Nikkei and Topix both up 0.6 pct * Sony rises after hedge fund ups stake, presses spin-off By Dominic Lau TOKYO, June 18 (Reuters) - Japan's Nikkei rose on Tuesday, heading for a third straight day of gains, which will mark its longest winning run since a sharp selloff on May 23, underpinned by hopes the Federal Reserve will reinforce its commitment to support the U.S. economy. Sony Corp climbed 3.6 percent after New York-based hedge fund company Third Point said it had raised its stake in the Japanese firm and asked for an opportunity to present its proposal for a partial spin-off of Sony's entertainment unit to the board. It was the most traded stock on the main board by turnover. The Nikkei advanced 0.6 percent to 13,107.03, breaking above the bottom of the Ichimoku cloud in a bullish sign. It climbed 2.7 percent on Monday, lifting the index out of bear market territory. "The yen move is obviously driving the yen-sensitives higher from their low positions ... It's a nice pick-up in volume versus yesterday but nothing really fundamental," a senior trader at a foreign brokerage said. The yen was last traded at 94.79 yen to the dollar on Tuesday, down from the previous session's high of 94.08, giving exporters some support. Toyota Motor Corp put on 1.6 percent and was the second-most traded, while Subaru maker Fuji Heavy Industries added 1.9 percent and Mazda Motor gained 1.4 percent. The broader Topix index gained 0.6 percent to 1,091.18, ahead of a two-day Fed meeting that will begin on Tuesday. Many investors have been cutting their long Japanese equities and short yen positions on concerns that the Fed will scale back its stimulus and after the Nikkei had rallied more than 80 percent from mid-November to its 5-1/2 year peak hit on May 23. Since then, trading in Japanese equities has been extremely volatile. Disappointment over a growth strategy unveiled by the Japanese government recently and worries over slowing growth in China have also contributed to the market tumult. Underscoring the volatility, since May 23 the Nikkei has had 15 sessions where intraday swings exceeded 2.5 percent, compared with 16 such trading days for the year up to May 22 and four such days in the whole of 2012. The U.S. S&P 500 only has had one such trading day in 2013, and the Euro STOXX 50 index has 11. The benchmark Nikkei has fallen 17.6 percent since that mulityear high on May 23, but is still up 6 percent since April 4, when the Bank of Japan unveiled sweeping stimulus measures and has risen 26 percent this year. Mon, 17 Jun 2013 21:16:54 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EU08F20130618?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EU00O20130618?feedType=RSS&feedName=tokyoMktRpt TOKYO, June 18 (Reuters) - Japan's Nikkei rose on Tuesday, heading for a third straight day of gains, which will mark its longest winning run since a sharp selloff on May 23, underpinned by hopes the Federal Reserve will reinforce its commitment to support the U.S. economy. The Nikkei added 0.3 percent to 13,077.53, while the broader Topix index gained 0.7 percent to 1,092.46. Mon, 17 Jun 2013 20:07:34 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EU00O20130618?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0ET3XM20130617?feedType=RSS&feedName=tokyoMktRpt TOKYO, June 18 (Reuters) - Japan's Nikkei is expected to open higher on Tuesday and head for a third straight day of gains, which will mark its longest winning run since a sharp selloff on May 23, underpinned by hopes the U.S. Federal Reserve will reinforce its commitment to support the U.S. economy. The Nikkei is likely to trade between 12,900 and 13,200, strategists said, after climbing 2.7 percent to 13,033.12 on Monday, lifting the benchmark out of bear market territory, though trading volume was light. Nikkei futures in Chicago closed at 12,955 on Monday, down 0.8 percent from the Osaka close of 13,060. "The G8 summit welcomed Prime Minister Shinzo Abe's explanation on his policy, although there has been concerns that some countries may finger-point him as trying to cheapen the yen," said Eiji Kinouchi, chief technical analyst at Daiwa Securities. "There were cases in the past where the yen strengthened after a G20 meeting but that didn't happen. So it's good for stocks." The yen was last traded at 94.685 yen to the dollar on Tuesday, down from the previous session's high of 94.08. The G8 called on Europe on Monday to press on with a banking union and Japan was urged to follow up on massive central bank stimulus with structural reforms and measures to tackle its budget deficit. The yen has exhibited a close inverse relationship with equities, especially Japanese shares which suffered a sharp selloff in recent weeks, prompting an unwinding of short-yen positions. Investors, mainly hedge funds, have been cutting their long Japanese equities and short yen positions on concerns that the Fed will scale back its stimulus and after the Nikkei had rallied more than 80 percent from mid-November to its 5-1/2 year peak hit on May 23. Since then, trading in Japanese equities has been extremely volatile. The U.S. dollar climbed against the yen for the first time in five sessions on Monday, as stock markets rallied on expectations the Fed's policy announcement this week will reassure investors that monetary stimulus will remain in place. On Monday, the broader Topix index climbed 2.7 percent to 1,084.72. The benchmark Nikkei has fallen 18 percent since that mulityear high on May 23, but is still up 5 percent since April 4, when the Bank of Japan unveiled sweeping stimulus measures and has risen 25 percent this year. > Wall St rises in volatile session before Fed meeting > U.S. dollar gains vs yen on stock bounce, Fed meeting > Treasuries fall on jitters over Fed bond buying > Gold slips as U.S. equities rise, FOMC in focus > Brent crude oil dips before Fed meeting STOCKS TO WATCH --TOYOTA MOTOR CORP The automaker aims to sell some 1.5 million vehicles in Japan this year, about 50,000 more than previously planned, the Nikkei newspaper said. Mon, 17 Jun 2013 19:15:06 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0ET3XM20130617?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0ET15L20130617?feedType=RSS&feedName=tokyoMktRpt * Nikkei, Topix both rise 2.7 pct as bargain hunters pick up battered names * Volume lowest since late March as market cautious ahead of Fed outcome * Nikkei crawls out of bear market By Ayai Tomisawa TOKYO, June 17 (Reuters) - Japan's Nikkei share average jumped 2.7 percent and recovered the 13,000-mark on Monday, as stocks such as exporters caught in the recent market rout bounced on bargain-buying. However, trading was subdued ahead of the widely anticipated outcome of the U.S. Federal Reserve policy-setting meeting later this week. The Nikkei gained 346.60 points to 13,033.12 after trading as low as 12,549.82 earlier on the back of weak U.S. stocks on Friday. The Japanese market has been hit by extreme volatility and big falls in recent weeks, with the index slumping to bear market territory due to concerns that the Fed may scale back its stimulus programme this year and a slowdown in the Chinese economy. Disappointment over the government's recently unveiled growth strategy has also led some investors to trim back their high expectations for Prime Minister Shinzo Abe's growth-spurring policies. But analysts said that Japanese shares seem to have hit the bottom as investors are expected to focus on likely improving companies' earnings this fiscal year. "This should be a good bargain hunting period as Japanese companies' earnings are expected to recover this fiscal year," said Masayuki Kubota, senior fund manager at Daiwa SB Investments. "But even if the Nikkei rebounds now, we may not expect a steady rise... not until we confirm a recovery in earnings for the April-June period. Then, it will likely start rising steadily." The Topix advanced 2.7 percent to 1,084.72. But volume was light, with only 2.48 billion shares changing hands, the lowest since March 27 as investors remained cautious before the outcome of the Fed meeting starting Tuesday. The benchmark Nikkei, which gained about 53 percent in the year to a 5-1/2-year high on May 23, has fallen 18.2 percent since then. But it is still up 5.4 percent since April 4, when the Bank of Japan unveiled sweeping stimulus measures aimed at breaking years of entrenched deflation and reviving growth. On Monday, exporters rose, with Toyota Motor Corp gaining 2.0 percent, Honda Motor Co adding 1.5 percent and Sony Corp rising 1.4 percent. Exporters' performances have been choppy in recent weeks as concerns over corporate earnings have emerged in response to growing volatility in the foreign exchange market which has seen the yen rebound from 4-1/2 year lows against the dollar. The wild swings in the Nikkei has been a key factor in the Japanese currency's bounce, as investors were forced to unwind short-yen positions. But analysts said that unless the yen's strength sustains for a while longer, exporters' earnings will likely see growth, and therefore are likely to be bought again on rising profit expectations. Nomura Securities said it sees prospects of a 30 percent rise in recurring profits for the year ending March even with the dollar trading at 90 yen. Goldman Sachs was also upbeat on the market, maintaining its 12-month Nikkei target of 17,000, and said the pullback offered another opportunity to invest in reflation and consumption-related stocks. "The yen is not the sole driver of Japan's profit recovery. Evidence is growing that consumption, production and housing investment are improving, so even if the dollar/yen averages 95 in FY2013-FY2014, EPS growth would still reach nearly 70 percent," the brokerage wrote in a note. The dollar last traded at 94.95 yen. Defensive stocks also attracted buyers, with Japan Tobacco gaining 5.0 percent, while Takeda Pharmaceutical Co Ltd rose 3.6 percent. Mon, 17 Jun 2013 03:17:35 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0ET15L20130617?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0ET1A620130617?feedType=RSS&feedName=tokyoMktRpt TOKYO, June 17 (Reuters) - Japan's Nikkei share average jumped 2.7 percent and recovered the 13,000-mark on Monday, as recently battered stocks such as exporters bounced on bargain hunting. The Nikkei gained 346.60 points to 13,033.12 after trading as low as 12,549.82 earlier on the back of weak U.S. stocks on Friday. The Topix advanced 2.7 percent to 1,084.72. But volume was light, with only 2.48 billion shares changing hands, the lowest since March 27 as investors remained cautious before the outcome of the U.S. Federal Reserve meeting starting Tuesday. Mon, 17 Jun 2013 02:13:58 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0ET1A620130617?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0ET0K220130617?feedType=RSS&feedName=tokyoMktRpt * Nikkei rises 1.2 pct, Topix up 1.3 pct in light trade * Nikkei crawls out of bear market * Market still cautious as Fed outcome looms By Dominic Lau TOKYO, June 17 (Reuters) - Japan's Nikkei share average climbed 1.2 percent on Monday as buying in defensive stocks helped reverse early losses, nudging the benchmark out of bear market territory. By the midday break, the Nikkei was up 152.14 points at 12,838.66 after trading as low as 12,549.82 on the back of weak U.S. stocks on Friday. Monday's gain took the index above its 100-day moving average at 12,735.31 but remained below the Ichimoku cloud in a bearish sign. "It's a mixed flow so far. It doesn't seem to be the type of guys that work on the cash side. It could be something else - high-frequency trading-driven or it could be retail-driven," a senior trader at a foreign bank said. "There is nothing on the cash side here." Amid market gyration and uncertainty over whether the U.S. Federal Reserve will start to scale back its massive stimulus, investors are likely to be cautious ahead of a two-day U.S. central bank meeting starting on Tuesday. The extreme volatility and big falls in the Nikkei in the past few weeks have been accompanied by disappointment over the government's recently unveiled growth strategy, which has led some investors to trim back their high expectations for Prime Minister Shinzo Abe's growth-spurring policies. Within defensive plays, the food sector was up 3.3 percent and Japan Tobacco gained 4.9 percent, while Takeda Pharmaceutical Co Ltd rose 2.3 percent and peer Eisai Co Ltd advanced 3.4 percent. The broader Topix index climbed 1.3 percent to 1,070.22 in light trade, with volume at 31 percent of its full daily average for the past 90 trading days, indicating relatively low conviction of the rebound. The real estate sector, which had rallied 70 percent this year to May 22 as it is seen to benefit most from Japan's push to reflate the economy, remained under pressure. It was the worst sectoral performer on Monday, down 2.9 percent. The sector has lost 28 percent from a 5-1/2 year high touched on April 12. GOLDMAN UPBEAT Goldman Sachs, however, remained upbeat on the market, maintaining its 12-month Nikkei target of 17,000, and said the pullback offered another opportunity to invest in reflation and consumption-related stocks. "The yen is not the sole driver of Japan's profit recovery. Evidence is growing that consumption, production and housing investment are improving, so even if the dollar/yen averages 95 in FY2013-FY2014, EPS growth would still reach nearly 70 percent," the brokerage wrote in a note. Investors, mainly hedge funds, have been cutting their long Japanese equities and short yen positions on the Fed's stimulus concerns and after the Nikkei had rallied more than 80 percent from mid-November to its 5-1/2 year peak hit on May 23. The Nikkei volatility index dropped 4.9 percent to 39.6 on Monday but remained elevated after hitting 46.2 on Thursday, its highest close since the March 2011 earthquake and tsunami. The lower the volatility index, the higher the investors' risk appetite. The Nikkei has fallen 19.5 percent since hitting the multiyear peak on May 23, but is still up 3.9 percent since April 4, when the Bank of Japan unveiled sweeping stimulus measures aimed at breaking years of entrenched deflation and reviving growth. The benchmark is up 23.5 percent this year. Sun, 16 Jun 2013 22:57:56 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0ET0K220130617?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0ET08R20130617?feedType=RSS&feedName=tokyoMktRpt * Nikkei up 0.4 pct, Topix up 1.1 pct * Nikkei still languishes in bear market By Dominic Lau TOKYO, June 17 (Reuters) - The Nikkei share average edged higher on Monday as buying in defensive stocks reversed early losses. The Nikkei added 0.4 percent to 12,7329.85 after trading as low as 12,549.82 on the back of weak U.S. stocks on Friday. Monday's gain took the index above its 100-day moving average at 12,734.37 "It's a mixed flow so far. It doesn't seem to be the type of guys that work on the cash side. It could be something else - high-frequency trading driven or it could retail driven," a senior trader at a foreign bank said. "There is nothing on the cash side here." "Defensives are outperforming but we are starting to see some tech names are popping up to positive territory." Amid market gyration and uncertainty over whether the U.S. Federal Reserve will start to scale back its massive stimulus, investors are likely to be cautious ahead of a two-day U.S. central bank meeting starting on Tuesday. Within defensive plays, the food sector was up 2.8 percent and Japan Tobacco gained 4.4 percent, while Takeda Pharmaceutical Co Ltd rose 2.3 percent and peer Eisai Co Ltd advanced 2.7 percent. The broader Topix index climbed 1.1 percent to 1,068.22 on Monday morning, with volume at 18 percent of its full daily average for the past 90 trading days. The real estate sector, which had rallied 70 percent this year to May 22 as it is seen to benefit most from Japan's push to reflate the economy, remained under pressure. It was the worst sectoral performer on Monday, down 2.5 percent. The sector has lost nearly 28 percent from a 5-1/2 year high touched on April 12. Goldman Sachs, however, remained upbeat on the market, maintaining its 12-month Nikkei target of 17,000, and said the pullback offered another opportunity to invest in reflation and consumption-related stocks. "The yen is not the sole driver of Japan's profit recovery. Evidence is growing that consumption, production and housing investment are improving, so even if the dollar/yen averages 95 in FY2013-FY2014, EPS growth would still reach nearly 70 percent," the brokerage wrote in a note. Investors, mainly hedge funds, have been cutting their long Japanese equities and short yen positions on the Fed's stimulus concerns and after the Nikkei had rallied more than 80 percent from mid-November to its 5-1/2 year peak hit on May 23. The extreme volatility and big falls in the past few weeks have been accompanied by disappointment over the government's recently unveiled growth strategy, which has led some investors to trim back their high expectations for Prime Minister Shinzo Abe's growth-spurring policies. The Nikkei has fallen 20 percent since hitting the multiyear peak on May 23, staying in bear market territory, but is still up 3 percent since April 4, when the Bank of Japan unveiled sweeping stimulus measures and has risen 22 percent this year. Sun, 16 Jun 2013 21:11:42 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0ET08R20130617?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0ET00920130617?feedType=RSS&feedName=tokyoMktRpt TOKYO, June 17 (Reuters) - The Nikkei share average fell in early trade on Monday as weak U.S. stocks and a stronger yen dampened already fragile sentiment, with the Japanese benchmark languishing in a bear market. The Nikkei shed 1 percent to 12,565.87, while the broader Topix index eased 0.6 percent to 1,050.25. Sun, 16 Jun 2013 20:04:01 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0ET00920130617?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0ES0GL20130616?feedType=RSS&feedName=tokyoMktRpt TOKYO, June 17 (Reuters) - The Nikkei share average is expected to open lower on Monday as weak U.S. stocks and a stronger yen dampen already fragile sentiment, with the Japanese benchmark languishing in a bear market. The Nikkei is likely to trade between 12,450 and 12,700, strategists said, while Nikkei futures in Chicago closed at 12,515 on Friday, down 2 percent from the Osaka close of 12,770. "The yen has strengthened again, but there is an expectations that if stocks sell off too much, the Bank of Japan will buy ETFs (exchange-traded funds), and this will give the market some support," said Hiroichi Nishi, equity general manager at SMBC Nikko Securities. U.S. stocks fell on Friday on low volume to end their third negative week in four on lingering concern over whether the U.S. Federal Reserve will soon start to trim its stimulus programme. The yen hovered near a two-month high against the dollar. It was last traded at 94.27 yen to the dollar on Monday. "The mountain of the SQ (Nikkei June futures and options contracts settlement on Friday) is behind us, but the next hurdle is this week's FOMC decision," Nishi said. The Fed will meet on Tuesday and Wednesday, and the U.S. central bank's policy statement and the news conference by Chairman Ben Bernanke after the meeting will be scrutinised for clues on when the Fed might start to scale back its stimulus. Investors, mainly hedge funds, have been cutting their long Japanese equities and short yen positions on the Fed's stimulus concerns and after the Nikkei had rallied more than 80 percent from mid-November to its 5-1/2 year peak hit on May 23. The extreme volatility and big falls in the past few weeks have been accompanied by disappointment over the government's recently unveiled growth strategy, which has led some investors to trim back their high expectations for Prime Minister Shinzo Abe's growth-spurring policies. On Friday, the Nikkei climbed 1.9 percent to 12,686.52, but was down 1.5 percent for the week, marking a fourth straight week of losses -- its longest such run since October. The broader Topix index advanced 1.2 percent to 1,056.45. The benchmark Nikkei has fallen 20 percent since hitting the multiyear peak on May 23, staying in bear market territory, but is still up 2.5 percent since April 4, when the Bank of Japan unveiled sweeping stimulus measures and has risen 22 percent this year. > Wall St slides in volatile week, eyes on the Fed > Yen strength sustained, market uncertain on Fed > U.S. bond prices gain on bets Fed to keep rates low > Gold posts weekly gain on physical demand, weak S&P > Oil up on Mid-East unrest, US crude touches 9-mth high STOCKS TO WATCH --FAST RETAILING CO LTD Japan's Uniqlo, owned by Fast Retailing, said on Sunday it plans to open two stores in Bangladesh, becoming the first international clothing retailer to do so. --MITSUBISHI MOTORS CORP Mitsubishi Motors is considering boosting output capacity in Indonesia and possibly building a new plant there to capitalise on brisk demand in emerging Asian economies. Sun, 16 Jun 2013 19:09:21 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0ES0GL20130616?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EQ16120130614?feedType=RSS&feedName=tokyoMktRpt * Nikkei rises 1.9 pct, Topix up 1.2 pct in active trade * Nikkei posts 4th straight weekly loss * Still holds below Ichimoku cloud in bearish sign * Volatility remains elevated By Dominic Lau TOKYO, June 14 (Reuters) - Japan's Nikkei average climbed 1.9 percent on Friday, rebounding from a slump in the previous session, as robust data eased concerns over whether the U.S. economy can withstand a pullback in stimulus by the Federal Reserve. "People are unwinding (short) positions, or people are trying to buy on dips. The market did rebound and the U.S. did well so people are buying on the back of that," a senior dealer at a foreign bank said. U.S. stocks rallied overnight after retail sales rose more than expected in May and first-time applications for unemployment benefits fell last week - signs of economic resilience. The senior dealer said buy orders outpaced sell orders by three to one and there was a good balance between long-only investors and hedge funds, although long-only players were a bit more active. "For the time being, the Nikkei is trying to find itself where it should be after the crazy opening," he said, referring to Nikkei June futures and options contracts settlement, known as "special quotation". The Nikkei ended up 241.14 points at 12,686.52 after trading as high as 12,900.65, though it was still holding below the Ichimoku cloud in a bearish sign. For the week, it was down 1.5 percent, marking its fourth straight weekly loss, its longest such losing streak since October. The Osaka Securities Exchange said after the close that Nikkei futures and options contracts for June settled at 12,668.04. BEAR MARKET On Thursday, the Nikkei tumbled 6.4 percent to its lowest close since April 3, the day before the Bank of Japan unveiled sweeping stimulus to revive the economy, and below the Ichimoku cloud for the first time since mid-November. It also took the slide from a 5-1/2-year peak hit on May 23 to nearly 22 percent, slumping into a bear market and wiping about $700 billion off the Nikkei's market capitalisation. Over the past three weeks, trading in the Nikkei has been volatile. The 30-day implied volatility for the benchmark jumped to 42.3 percent on Thursday, its highest since the March 2011 earthquake and tsunami, according to Thomson Reuters Datastream. Investors, mainly hedge funds, have been cutting their long Japanese equities and short yen positions on concerns that the Fed will roll back its stimulus and after the Nikkei had rallied more than 80 percent from mid-November to that multi-year high. Tsukasa Shimoda, the founder and president of Galleyla Investment, said he was cautious in the short-term but the recent sell-off offered good opportunity in the medium-term. "If I see a better chance, I will increase the net positions," said Shimoda, whose hedge fund has a size of $10 million. The broader Topix index advanced 1.2 percent to 1,056.45 in active trade on Friday, with trading volume hitting a one-week high of 3.77 billion shares. Beaten-down real estate companies were in demand, up 4.4 percent, while exporter Toshiba Corp gained 2.9 percent. Nomura Securities was bullish, lifting its Nikkei year-end target to 18,000 from 16,000, despite the recent sell-off. "We do not brush off the recent stock market turmoil lightly. Indeed, we see it as significant because it constitutes a challenge to Abenomics," it said in a note. "If share prices fall back to where they were before the BOJ announced its new phase of monetary easing, this could prompt market observers to pronounce Abenomics a failure." The sell-off has taken Japanese equities' valuations, measured by the 12-month forward price-to-earnings, to 14.1 from a three-year high of 16.3 touched two weeks ago, Datastream showed. Fri, 14 Jun 2013 02:46:36 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0EQ16120130614?feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL5N0EQ0BR20130614?feedType=RSS&feedName=tokyoMktRpt TOKYO, June 14 (Reuters) - Japan's Nikkei average climbed 1.9 percent on Friday, recovering some of the previous session's sharp fall, as robust data eased concerns over whether the U.S. economy can withstand a pullback in stimulus by the Federal Reserve. The Nikkei ended 241.14 points higher at 12,686.52 after trading as high as 12,889.46. For the week, the index was down 1.5 percent, marking its fourth straight week of losses - its longest losing run since October. The broader Topix index advanced 1.2 percent to 1,056.45. Fri, 14 Jun 2013 02:06:10 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL5N0EQ0BR20130614?feedType=RSS&feedName=tokyoMktRpt