7 de octubre de 2014 / 3:02 / en 3 años

REFILE-Nikkei erases losses after BOJ chief's comment on weak yen; Fujifilm shines

(Refiles to fix tyop in first paragraph)
    * Traders take heart from Kuroda's comment at parliament on
weak yen - traders
    * Market continues to focus on Kuroda's speech after policy
    * Fujifilm soars after French and Guinean governments
consider clinical trials

    By Ayai Tomisawa
    TOKYO, Oct 7 (Reuters) - Japanese stocks clawed back early
losses on Tuesday in response to comments from the Bank of Japan
governor on the impact of the weak yen, but investors remained
cautious ahead of the bank's policy decision later in the day.
    "In general, a weak yen has some positive effect on exports
and capital expenditure by pushing up revenues at companies with
operations overseas. On the other hand, it's true a weak yen
weighs on non-manufacturers' revenues by pushing up import
costs," Kuroda told a parliament committee meeting in the
    The Nikkei share average, which started in negative
territory, ended the morning session flat at 15,897.31 after
flirting with positive territory.
    "There were concerns about a negative impact of the weak yen
on the economy as well, so his comment was assuring," said
Nobuhiko Kuramochi, a strategist at Mizuho Securities.
    The central bank is likely to maintain its massive monetary
stimulus but offer a bleaker view on factory output in its
decision later in the day, and the market is more focused on
Kuroda's news conference later. 
    Fujifilm Holdings Corp stood out, outperforming the
market and extending its prior day gains - up 4.7 percent at the
midday break. It was the most traded stock by turnover.
    The company said on Monday the French and Guinean
governments are considering clinical trials using its influenza
drug Favipiravir developed by its group firm Toyama Chemical Co.
to treat patients infected with the Ebola virus. 
    "I started buying the stock when the news about the first
patient in the U.S. came out," said a fund manager at a Japanese
asset management firm, tipping more upside toward 5,500 yen. 
    "If a panic spreads to other regions, it could hurt the
global economy.  I would keep Fujifilm among our top picks," he
    Exporters were stronger, with Toyota Motor Corp 
gaining 1.0 percent, Honda Motor Co adding 0.9 percent
and Panasonic Corp rising 0.9 percent.
    The broader Topix rose 0.5 percent to 1,302.26, and
the JPX-Nikkei Index 400 added 0.5 percent to

 (Editing by Shri Navaratnam & Kim Coghill)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below