Nikkei gains on bright industrial data; earnings optimism boosts sentiment

martes 28 de octubre de 2014 21:47 GYT

* Japanese shares up as factory output beats expectations
    * Nomura jumps on rosy earnings data
    * Honda forecasts trimmed on tough competition,
recall-linked problems

    By Thomas Wilson
    TOKYO, Oct 29 (Reuters) - Japanese stocks rose on Wednesday
after better-than-expected industrial production data and upbeat
earnings figures bouyed investor sentiment.
    Industrial production rose by 2.7 percent in September, the
fastest pace since January, easing some concerns about Japan's
factory activity and the broader economy. 
    The Nikkei share average jumped 1.4 percent to
15,543.28 by 0125 GMT, on course for its biggest gain in a week.
    "Anything that's sentiment-positive for the economy is a
double blessing for the market," said Gavin Parry, managing
director of Parry International Trading in Hong Kong.  
    Japan's largest investment banking and securities group
Nomura Holdings was boosted by better-than-expected
earnings. Shares in the firm soared 5 percent after its second
quarter net profit rose 39 percent. [ID: nL4N0SN2ZF]
    Investors bought robot manufacturer Fanuc Corp,
which climbed 1.7 percent, and Sony, which gained 3.1
    But Honda Motor Co Ltd slipped 0.4 percent in spite
of the promising factory data.  
    On Tuesday the firm trimmed its full-year sales forecasts in
the face of tough competition in Japan and China, as well as the
impact of recalls of cars with air bags made by Takata Corp
. [ID: nL4N0SN34S]
    Shin-Etsu Chemical also disappointed, with shares
dropping 2.5 percent even though the firm raised its earnings
    Companies due to post earnings results after the close of
Wednesday's session include Hitachi Ltd, Mitsubishi
Motors and Nintendo.    
    The broader Topix gained 1.4 percent to 1,269.02.  
The new JPX-Nikkei Index 400 also added 1.4 percent
to 11,546.39.   

 (Reporting by Thomas Wilson; Editing by Kim Coghill)