Global Market News

Lower Yen Helps Elevate Tokyo Market


Last updated: 01/25/2023 04:59:32

04:59 AM EST, 01/25/2023 (MT Newswires) -- The Nikkei 225 opened evenly Wednesday but gained in the afternoon, closing up 0.4%, as a softening Japanese yen boosted export issues. Auto-battery component makers gained on earnings.

The benchmark Nikkei 225 rose for the fourth straight trading day, up 95.82 to 27,395.01, as gaining issues outnumbered losers 175 to 45.

Leading the upside were conglomerate Dai Nippon Printing (DNPCF, 7912:Tokyo), up 14.8% on media reports that activist investor Elliot Management has taken a stake. Suzuki Motor (SZKMY, 7269:Tokyo), rose 5.6%, and battery-parts manufacturer and printing house Toppan (TOPPY, 7911:Tokyo), rose 4.6%.

On the downside were electric-motor maker Nidec (NJDCY, 6594;Tokyo), off 5.4% after a profit warning, and then online medical-services outfit M3 (MTHRF, 2413:Tokyo), off 1.2%.

In other news, Japan is considering upgrading its relations with the Association of Southeast Asian Nations (ASEAN) to a comprehensive strategic partnership, Masahiko Kiya, Japan's ambassador to ASEAN, told Nikkei Asia.
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