Reuters logo
5 年前
Nikkei hovers around 4-wk closing low, tech shares drop on HP profit warning
2012年10月4日 / 凌晨2点07分 / 5 年前

Nikkei hovers around 4-wk closing low, tech shares drop on HP profit warning

* Canon, Ricoh, Konica slip after HP profit warning
    * Nikon falls on report operating profit below consensus
    * Investors wary ahead of ECB, BOJ meetings

    By Sophie Knight
    TOKYO, Oct 4 (Reuters) - Japan's Nikkei share average stayed
near a four-week closing low in choppy trade on Thursday, with
technology shares slumping on concerns over dwindling profits,
although robust U.S. economic data offered some support.
    Recently battered exporters were granted some breathing
space by a slightly softer yen, with Nissan Motor Co 
gaining 2.3 percent, but tech-related shares such as Canon Inc
 slipped after a profit warning from U.S. counterpart
Hewlett-Packard.
    Nikon Corp sagged 3.6 percent after the Nikkei
business daily said its interim operating profit would drop 43
percent on the year to 35 billion yen ($445 million), signalling
a slowdown in sales. 
    The Nikkei added 2.4 points to 8,749.25, hovering
around a four-week closing low struck on Wednesday, with
investors cautious ahead of a European Central Bank meeting on
Thursday, and a Bank of Japan policy decision and U.S. jobs data
on Friday.
    "Investors are backing out of tech shares, where profits are
looking weaker and weaker," said Yasuo Sakuma, portfolio manager
at Bayview Asset Management.
    "After companies went ex-dividend at the end of September
there are precious few reasons to buy."
    Canon dropped 3.3 percent, while Ricoh Co Ltd,
Konica Minolta Holdings Inc and TDK Corp 
sagged between 1.5 and 3.9 percent after HP warned of a darker
outlook for 2013 earnings.
    Bearishness on tech-related shares contributed to Nidec
Corp's 3.1 percent loss, with the micro motor maker
dealt a double blow after it was downgraded by J.P. Morgan to
'neutral' from 'overweight'.
    Toymaker Tomy Co Ltd ran against the market,
however, shooting up 11.3 percent after the Nikkei reported it
had acquired the right to market Pokemon merchandise worldwide,
taking over from a unit of Namco Bandai Holdings Inc,
which lost 2.5 percent.
    Hoisted by gains for smaller firms, the broader Topix
 added 0.3 percent to 729.44.
    Yet trading remained restrained in a week so far
characterised by very low volumes, ahead of the closely watched
U.S. non-farm payrolls report on Friday, when the Bank of
Japan's policy meeting also concludes.
    
    MIXED CONSENSUS
    Market consensus is mixed over whether the BOJ will ease
monetary policy further, as it may be reluctant to expand its
balance sheet after swelling it by 10 trillion yen ($127
billion) last month, although its latest survey showed
increasing pessimism about the domestic economy. 
    However, in the latest sign that the U.S. economy is getting
back on its feet, data showed growth in the country's service
sector in September, contrary to economists' expectations of a
slight decrease, while the private sector added more jobs than
anticipated last month. 
    "After falling for four days and a totally directionless day
yesterday, the market is due for a rebound and the U.S. data
will be the catalyst," said Toshiyuki Kanayama, senior market
analyst at Monex.
   The Nikkei ended down for a fourth straight session on
Wednesday, losing 0.5 percent to 8,746.87 to a four-week closing
low.
    "The troughs over the last five months have been gradually
getting higher so it's very important it doesn't hit its
September 3 low of 8,646," said Kanayama.
    The benchmark stooped to 8,238.96 on June 4, and then fell
to 8,328.02 on July 25 after another brief rally. Another
rebound and pullback left it at 8,646.03 on Sept. 6.
    The index is expected to close up 12 percent on the year at
about 9,500, according to 22 analysts and fund managers  polled
by Reuters. The index is currently up 3.4 percent for the year.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below