Nikkei rises to 1-1/2-week high helped by weak yen, but cuatious on earnings

lunes 9 de mayo de 2016 21:52 GYT
 

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By Ayai Tomisawa

TOKYO, May 10 (Reuters) - Japan's Nikkei share average rose to a 1-1/2-week high on Tuesday after the yen weakened, but investors remained careful before major companies release full-year earnings and forecasts.

The Nikkei gained 1.2 percent to 16,412.88 by midmorning, the highest since Apr. 28.

But analysts said investors remain wary that the yen could firm again, and also are bracing for more companies to report declines in profits for this fiscal year.

"It will probably take a few months to price the bad news in, so the market is likely to stay weak for a while," said Masashi Oda, general manager at strategic investment department at Sumitomo Mitsui Trust Asset Management.

"Investors would buy domestic-demand sensitive stocks which have little exposures to currency moves."   Continuación...