Chief Stock Market Correspondent, EMEA
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Jan 29, 2013

Komatsu cuts forecast on Indonesia coal mining slump

TOKYO, Jan 29 (Reuters) – Japan’s Komatsu Ltd, the
world’s second-biggest maker of construction machinery, cut its
annual profit for a second time as demand for mining equipment
in Indonesia tumbled on the back of steep declines in thermal
coal prices.

Indonesia is the world’s top exporter of thermal coal,
largely used to fuel power stations in China and India, but its
coal miners have struggled in the face of tumbling prices as
demand in China slowed.

Jan 24, 2013

Japan Inc’s earnings outlook brightens under ‘Abenomics’

TOKYO, Jan 25 (Reuters) – The yen’s steep decline has
burnished the outlook for Japanese stocks, prompting analysts to
raise profit forecasts for currency-sensitive exporters and
foreign investors to plough $17 billion into the market, the
biggest monthly inflow since 2010.

With 60 percent of Japan’s listed companies focused on
exports, firms ranging from camera maker Nikon Corp to
air-conditioner group Daikin Industries Ltd are basking
in the prospect of a one-off currency boost and the chance to
price their goods more competitively.

Jan 15, 2013

Nikkei scales 32-month high; Sharp shares down on Apple report

TOKYO (Reuters) – Japan’s Nikkei share average climbed 1 percent to a 32-month high on Tuesday, driving the benchmark further into “overbought” territory, as persistent weakness in the yen boosts demand for exporters’ shares.

The Nikkei rose 110.23 points to 10,911.80, setting its sights on the 11,000-mark, a level not seen since late April 2010. It rose 1.1 percent last week to log its ninth straight week of gains and its longest such winning run since 1988. Monday was a public holiday in Japan.

Jan 8, 2013

Ten-year JGB yields dip as auction demand robust

TOKYO, Jan 8 (Reuters) – Yields on benchmark 10-year
Japanese government bonds eased on Tuesday as an auction of 2.3
trillion yen ($26 billion) worth of similar maturities went
well, although the tone in the market remained weak.

“The 10-year auction was fairly good in terms of
bid-to-cover ratio, although it was lower than the previous
auction. We saw real demand from regional banks,” said Tadashi
Matsukawa, head of Japan fixed income at PineBridge Investments.

Jan 7, 2013

Ten-year JGBs steady after Friday’s sell-off

TOKYO, Jan 7 (Reuters) – Benchmark 10-year Japanese
government bonds stabilised on Monday after a sell-off in the
previous session, as profit-taking in Tokyo shares helped
support fixed-income assets.

Yields on the 10-year bonds were unchanged at
0.835 percent after touching 0.840 percent, a 4-1/2-month high,
earlier in the session. They rose 4 basis points on Friday to
log their biggest one-day rise in five months as Japanese
equities rallied, buoyed by a weaker yen and a deal in
Washington to avert the “fiscal cliff”.

Dec 28, 2012

Nikkei vaults 21-month high, heads for best year gain since 2005

TOKYO (Reuters) – Japan’s Nikkei average rose to a 21-month high on Friday, heading for its best yearly gain since 2005, as exporters were buoyed by a weaker yen on expectations of aggressive monetary stimulus under new Prime Minister Shinzo Abe.

Export-focused firms leading the index higher included Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz), Honda Motor Co (7267.T: Quote, Profile, Research, Stock Buzz), Canon Inc (7751.T: Quote, Profile, Research, Stock Buzz) and Nikon Corp (7731.T: Quote, Profile, Research, Stock Buzz), up between 1.2 and 2.4 percent.

Dec 26, 2012

JGBs fall, with 10-year yield hitting 2-month high

TOKYO, Dec 26 (Reuters) – Japanese government debt fell on
Wednesday, with the 10-year yield hitting a two-month high, on
expectations that incoming Prime Minister Shinzo Abe would
increase pressure on the central bank to ease policy further.

The 10-year yield added 2 basis points to
0.785 percent to its highest level since Nov. 1, while JGB
10-year futures fell 26 ticks to 143.66 in active trade
after trading as low as 143.58, their lowest level since Sept.
19.

Dec 19, 2012

Japanese automakers rally on hopes of weaker yen

TOKYO, Dec 19 (Reuters) – Hopes that Japan’s central bank
would obey incoming prime minister Shinzo Abe’s call to print
more money and weaken the yen sparked a sharp rally on Wednesday
among auto stocks, lifting Tokyo’s market to its biggest gain in
over a year.

Honda Motor led the gains, rising 6 percent, while
Nissan Motor climbed 5.5 percent and Toyota Motor
rose 3.5 percent. The three stocks helped push the
benchmark Nikkei Stock Average up 2.4 percent to above
10,000 for the first time in almost nine months.

Dec 19, 2012

Japan’s Nikkei surges 2.4 pct to 8-1/2-month high

TOKYO (Reuters) – Japan’s Nikkei share average jumped 2.4 percent to end above 10,000 for the first time in more than eight months on Wednesday, on growing expectations of easier monetary policy under a new government.

Signs of progress in negotiations in the United States to avoid spending cuts and tax increases in the so-called “fiscal cliff” also lifted sentiment.

Dec 14, 2012

Nikkei dips ahead of Sunday’s election, still overbought

TOKYO (Reuters) – Japan’s Nikkei average inched down on Friday as investors were cautious ahead of this Sunday’s general election, with strong expectations that the main opposition party, which favors aggressive easing, is set for victory.

The Nikkei .N225 ended 0.1 percent lower at 9,737.56, but was still near its eight-month closing high hit on Thursday.

    • 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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