Friday, October 11, 2013
Nikkei Stays Slightly Positive In Morning Trade
TOKYO (NQN)--Tokyo stocks are continuing higher into a fourth straight trading day mid-morning Friday, with the Nikkei Stock Average rising about 160 points to hover at the mid-14,300 level.
The dollar slightly rose against the yen, giving momentum to Hino Motors Ltd. (7205), Suzuki Motor Corp. (7269) and other exporters. More than 80% of stocks on the first section of the Tokyo Stock Exchange are trading higher. However, a report on The New York Times' online edition said that U.S. President Barack Obama and House Republicans failed to reach an agreement over the U.S. government shutdown. The news is prompting investors to sell stock index futures, capping the upside of the Nikkei average.
The Topix index is also trading higher into a fourth straight trading day, with all 33 subindexes of the Topix gauge rising.
Gainers include Toyota Motor Corp. (7203), SoftBank Corp. (9984), Fanuc Corp. (6954), Kyocera Corp. (6971) and Astellas Pharma Inc. (4503). Meanwhile, shares in Fast Retailing Co. (9983) are trading sharply lower, clipping about 50 yen off the Nikkei average. The previous day, the operator of the Uniqlo clothing chain announced a lower-than expected group net forecast for the year ending August 2014.