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Mar 14, 2012

Japan’s Sharp to name Okuda as new president – source

TOKYO (Reuters) – Japan’s Sharp Corp (6753.T: Quote, Profile, Research) plans to replace its president as it heads for a record annual net loss on slumping TV sales that forced it to slash LCD output at its main plant, the Nikkei business daily reported.

The Osaka-based company said it would announce management changes at 4 p.m. (0700 GMT) on Wednesday, but declined to say whether the changes would involve its president, Mikio Katayama.

Mar 14, 2012

Japan’s Sharp to replace president: Nikkei

TOKYO (Reuters) – Japan’s Sharp Corp plans to replace its president as it heads for a record annual net loss on slumping TV sales that forced it to slash LCD output at its main plant, the Nikkei business daily reported.

The Osaka-based company said it would announce management changes at 4 p.m. (3.00 a.m. EDT) on Wednesday, but declined to say whether the changes would involve its president, Mikio Katayama.

Mar 13, 2012

Nikkei cuts gains after BOJ holds off more easing

TOKYO (Reuters) – Japan’s Nikkei share average eked out modest gains on Tuesday despite giving up an earlier increase to above the key 10,000 mark after the Bank of Japan held off on easing monetary policy following a two-day policy meeting.

“Investors were expecting so much (from the BOJ). That was why the market cut gains,” said Hisao Matsuura, equity strategist at Nomura. “But we have not changed our view of the Japanese equity market. We may see some corrections but these will provide good opportunities to buy.”

Mar 12, 2012

Nikkei pares gains after breaking above 10,000

TOKYO (Reuters) – Japan’s Nikkei share average climbed on Monday as a third month of robust U.S. jobs data underscored the case for a strengthening U.S. economic recovery, although the index pared some gains after hitting a fresh 7-month high above 10,000.

The yen’s weakening to near 11-month lows against the dollar on the back of Friday’s non-farm payrolls data was a major support for the market, though not as much as some had expected.

Mar 9, 2012

Nikkei hits 10,000 for first time since August

TOKYO (Reuters) – Japan’s Nikkei average topped 10,000 for the first time in seven months on Friday, buoyed by signs that Greece had avoid a messy default and by a weaker yen, which would help struggling Japanese exporters.

The benchmark index closed up 1.7 percent at 9,929.74 after trading as high as 10,007.62. It trimmed gains after some investors pocketed gains ahead of the U.S. February jobs data.

Mar 9, 2012

Nikkei rises 1.5 percent to 7-month high on Greece, yen

TOKYO (Reuters) -

Japan’s Nikkei average climbed 1.5 percent to a fresh seven-month high on Friday, edging near 10,000, after Greece closed its bond-swap offer to private creditors successfully, key to securing an international bailout to avoid a messy default.

A weaker yen also boosted Japanese exporters, with Canon Inc (7751.T: Quote, Profile, Research, Stock Buzz) up 1.2 percent, Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) adding 2.1 percent, Honda Motor Co (7267.T: Quote, Profile, Research, Stock Buzz) gaining 2.6 percent and Mazda Motor Corp (7261.T: Quote, Profile, Research, Stock Buzz) up 3.9 percent.

Mar 8, 2012

Nikkei climbs 1.3 percent to near 9,700, ends losing run

TOKYO (Reuters) – Japan’s Nikkei share average climbed 1.3 percent to near 9,700 on Thursday, on course to snap a three-day losing streak, boosted by an upbeat U.S. private-sector jobs report and optimism that Greece will complete its debt restructuring.

A Wall Street Journal report that the U.S. Federal Reserve is considering a new type of mortgage and Treasury bond-buying programme, which is known as quantitative easing (QE), also lifted sentiment, with financials and exporters among the best performers on the Tokyo stock exchange.

Mar 7, 2012

Nikkei hits 2-week low; bridge builders outperform

TOKYO (Reuters) – Japan’s Nikkei share average fell as much as 1.3 percent to hit a two-week low on Wednesday on fresh concerns over a slowing global economy after Brazil reported weak growth and on fears that Greece may not meet its deadline for debt restructuring.

Some investors shifted to domestic-focused companies from exporters, however, with bridge builders extending their sharp gains in the previous session after the Tokyo Metropolitan Expressway Co Ltd convened its first panel meeting on Monday to consider upgrading highways in the capital.

Mar 7, 2012

Nikkei hits two-week low on Greece, growth fears

TOKYO (Reuters) – Japan’s Nikkei share average hit a two-week low on Wednesday on fresh concerns over slowing global growth after Brazil reported weak growth for 2011 and fears that Greece may not meet its deadline for debt restructuring.

Financials, shippers and machinery stocks came under pressure after they rallied hard in the past two months, buoyed by a run of strong U.S. economic data and accommodative monetary policies by global central banks that have pushed investors back into risk assets.

Mar 6, 2012

Nikkei slips for 2nd day; bridge makers soar

TOKYO (Reuters) – Japan’s Nikkei share average slipped for a second day on Tuesday as investors bagged profits on blue chip stocks following February’s 10.5 percent rally, although some attractive valuations and a softer yen supported sentiment.

Honda Motor Co slid 1.9 percent, Sony Corp eased 0.8 percent, Panasonic Corp shed 2.1 percent and Nomura Holdings lost 1.3 percent.

    • About Dominic

      "I am head of the European stock markets team based in London. Before that, I was with Reuters Hong Kong for more than 10 years, covering politics, banking, macro-economy and Asian G-3 currency bonds and credit."
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