Japanese shares rise on hopes for better corporate outlook
The Nikkei share average rose 0.9% to 26,640.61 by
The gains came even as
"Japanese equities were firm today even as the Dow and S&P
had extended their losses," said
"Overall, corporate outlook is relatively strong, and many made modest forecast for currencies, which means there may be a further upside toward the end of the year."
Uniqlo owner Fast Retailing (FRCOF) rose 2.77% and provided the biggest boost to the Nikkei, followed by technology start-up investors SoftBank Group (SFTBF), which climbed 3.42%, and chip-making equipment maker Tokyo Electron (TOELF), which added 1.21%.
Seiko Epson (SEKEF) surged 8.81% and was the top gainer on the Nikkei after the watch maker announced a buyback of up to 9.35% of its shares.
Tokyo Gas (TKGSF) fell 2.97% and was the biggest loser on the index after a report said the gas provider would shoulder increasing costs as there was a limit on how much it could pass them on to consumers.
Hoya rose 4.4% and was the top gainer among the top 30 core Topix names, followed by staffing agency Recruit Holdings (RCRRF), which rose 4.28%.
Touch panel maker Keyence (KYCCF) fell 2.87% and was the worst performer among the top 30, followed by retailer Seven & i Holdings (SVNDF), which lost 1.77%.
There were 155 advancers on the Nikkei index against 67 decliners.
(Reporting by