Kikkoman logo

2801 - Kikkoman News Story

¥5810 -30.0  -0.5%

Last Trade - 7:00am

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

Nikkei ends at one-week high on Wall Street rally, weaker yen

Tue 4th August, 2020 8:09am
TOKYO, Aug 4 (Reuters) - Japanese shares ended higher 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 1.7% to
22,573.66, its highest close since July 28, while the broader
Topix  .TOPX  jumped 2.14% to 1,555.26. 
    All 33 sector sub-indexes on the Tokyo exchange finished
trading 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 boosted risk appetite,
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.*:nL1N2F50TL
    Shares of export-oriented automobile makers got a boost from
a weaker yen, which edged further away from a 4-1/2-month high
hit last week against the dollar.
    Mazda Motor  7261.T  surged 10.59%, while Mitsubishi Motor
 7211.T  and Nissan Motor Co  7201.T  rallied 7.18% and 6.61%,
    Individual stocks with better-than-expected earnings results
also provided a tailwind, prompting investors to lean towards
risk-on mood, said Shuji Hosoi, senior market strategist
at Daiwa Securities in Tokyo.
    Suzuki Motor  7269.T  rose 7.67% on better-than-expected
    While the automaker posted a 1.3 billion yen operating
profit, its worst quarterly performance on record, it was still
better than a consensus forecast for a loss of 38 billion yen
drawn from six analysts polled by Refinitiv.*: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.
    Nikkei heavyweight SoftBank Group  9984.T  fell 0.74% after
Reuters reported, citing a person with knowledge of the matter,
that the tech conglomerate under-reported income by around 40
billion yen.*:nL4N2F607J 
    Elsewhere, Sony Corp  6758.T  added 4.47% ahead of earnings
later in the day.

 (Reporting by Eimi Yamamitsu; Editing by Subhranshu Sahu and
Aditya Soni)
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.