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2801 - Kikkoman News Story

¥5810 -30.0  -0.5%

Last Trade - 7:00am

Sector
Consumer Defensives
Size
Large Cap
Market Cap £8.33bn
Enterprise Value £8.42bn
Revenue £3.43bn
Position in Universe 112th / 3864

Japanese shares track Wall Street higher, weaker yen supports exporters

Tue 4th August, 2020 4:54am
TOKYO, Aug 4 (Reuters) - Japanese shares rose on Tuesday as
investor sentiment was lifted by a tech-led overnight rally on
Wall Street, and a softer yen propped up exporters. 
    The benchmark Nikkei average  .N225  gained 1.4% to
22,505.83 by the midday break, while the broader Topix  .TOPX 
added 1.56% to 1,546.37. 
    All but one of the 33 sector sub-indexes on the Tokyo
exchange traded in positive territory, led by highly cyclical
airlines  .IAIRL.T , land transport  .IRAIL.T  and shippers
 .ISHIP.T .
    Overnight, Wall Street rallied as strong U.S. manufacturing
data and gains in tech-related stocks lifted sentiment, with the
Nasdaq settling at a record closing high.
    An industry gauge released on Monday indicated U.S.
manufacturing activity expanded in July at the fastest pace in
more than a year.  urn:newsml:reuters.com:*:nL1N2F50TL 
    Shares of export-oriented automobile makers got a boost from
a weaker yen as it edged further away from a 4-1/2-month high
hit last week against the dollar.
    Mazda Motor  7261.T  spiked 7.64%, while Mitsubishi Motor
 7211.T  and Subaru  7270.T  added 5.26% and 4.32%,
respectively.
    Investors also digested a slew of earnings reports, with
Suzuki Motor  7269.T  rising 6.45% on better-than-expected
earnings.
    While the automaker posted a 1.3 billion yen operating
profit, its worst quarterly performance on record, it was still
higher than a consensus forecast for a loss of 38 billion yen
drawn from six analysts polled by Refinitiv.  urn:newsml:reuters.com:*:nL4N2F51LH
    Food company Kikkoman Corp  2801.T  jumped 14.11% to its
daily limit on stay-at-home demand hopes, despite a 12.8%
decline in April-June net profit.
    Among the biggest percentage losers in the index, Nikkei
heavyweight SoftBank Group  9984.T  dipped 1.96% after Reuters
reported, citing a person with knowledge of the matter, that the
tech conglomerate under-reported income by around 40 billion
yen.  urn:newsml:reuters.com:*:nL4N2F607J 
    Elsewhere, Sony Corp  6758.T  added 4.22% ahead of earnings
later in the day.

 (Reporting by Eimi Yamamitsu; Editing by Subhranshu Sahu)
 ((eimi.yamamitsu@thomsonreuters.com;))
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