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[TOKYO] Japanese stocks closed higher on Wednesday in hopes of better corporate results after the International Monetary Fund (IMF) raised its forecast for global growth, while Nitto Denko stocks fell after a Revised earnings outlook jumped.
The Nikkei stock average rose 0.31 percent to 28,635.21, while the broader Topix rose 0.65 percent to 1,860.07.
The International Monetary Fund (IMF) rose announced its forecast for global economic growth in 2021, saying the coronavirus-triggered downturn last year would be almost a full percentage point less severe than expected.
« A lot of Japanese stocks are sensitive to the global economy. Investors throw up a fresh look at Japanese equities following the IMF’s global economic outlook, « said Hideyuki Ishiguro, senior strategist at Daiwa Securities.
equities in Asia mi The exception of Japan fell, with MSCI’s assessment of Asian ex-Japan stocks falling 0.3 percent.
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At home, electronic components maker Nitto Denko rose 7.91 percent to a three-year high after raising its annual forecast for operating profit to 90 billion yen (1.15 billion S $) / p> The stock was the top gainer in the Nikkei index, followed by Canon with an increase of 6.71 percent and Sharp with an increase of 6.15 percent.
Shionogi & Co gained 1.12 percent after the drug maker announced it had sold development and commercialization rights for a Covid-19 treatment to California-based Biotech BioAge Labs.
ANA Holdings fell 0.61 percent after the airline announced To suspend 16 international routes and reduce service to three more routes in the summer as the Covid-19 pandemic restricts travel around the world.
Energy and environmental services company Japan Asia Group peaked at 1,090 yen move rtet after the shares were not traded due to a flood of buy orders when the US buyout fund Carlyle Group increased its offering.
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Ref: https://www.businesstimes.com.sg
