Nikkei rises on earnings hopes; Toyota jumps 1.5 pct

lunes 20 de abril de 2015 22:06 GYT

* Nikkei up 0.8 percent
    * Investors seek automakers, electronic manufacturers ahead
of earnings announcements
    * China's stimulus calms slowdown worries

    By Thomas Wilson
    TOKYO, Apr 21(Reuters) - Japanese stocks rose on Tuesday
morning as growing hopes for strong corporate earnings drove up
exporters such as Toyota Motor and Panasonic Corp.     
    The Nikkei benchmark added 0.8 percent to 19,796.72
by 0203 GMT, moving clear of a two week low hit on Monday.
    Market analysts said that investors are seeking out stocks
before earnings announcements, hoping that corporate governance
reforms will boost investor returns and help steady a fragile
economic recovery. 
    "Strong corporate earnings promise to lead to good returns
and a positive outlook for the year ahead," said Masayuki Otani,
chief market analyst at Securities Japan, Inc. 
    "It also bodes well for the Japanese economy, by boosting
the chances of capital expenditure and higher summer bonuses,"
he said.
    Toyota Motor Corp, expected to post strong sales in
the U.S., gained 1.5 percent, while Nissan Motor Co Ltd 
added 1.0 percent and Panasonic Corp climbed 1.9
    Traders also said that there was a measure of relief in
markets from China's latest step to shore up its faltering
economy, which propped up markets in Europe and Wall Street
    "Investors in Japan and abroad are responding well to
China's fiscal easing," said Masayuki Doshida, senior market
analyst at Rakuten Securities. 
    Industrial robot maker Fanuc Corp, which has
exposure to China, gained 2.0 percent. Meanwhile, mobile phone
carrier Softbank lost 0.5 percent.
    Canon Inc slipped 0.4 percent after the Nikkei
business daily reported the company posted a 15 percent drop in
its fourth quarter operating profit, as digital camera sales
slumped in Europe.  
    The broader Topix added 0.9 percent to 1,601.55,
while the JPX-Nikkei Index 400 was also up, climbing
1.2 percent to 14,529.38.

 (Reporting by Thomas Wilson; Editing by Shri Navaratnam)