Home / FINANCE / Markets Insider / Strong earnings, superintendence boost Nikkei; Nitto Denko, SMFG soar (6988, 8316, )

Strong earnings, superintendence boost Nikkei; Nitto Denko, SMFG soar (6988, 8316, )

* Nitto Denko contributes large lift to Nikkei

* About 20 pct of companies have lifted full-year
outlooks-Daiwa

By Ayai Tomisawa

TOKYO, Aug 1 (Reuters) – Japan’s Nikkei share normal rose
on Tuesday, buoyed by companies stating clever gain such
as Nitto Denko and Mitsui Sumitomo Financial Group, yet gains
were gradual by a stronger yen.

By a midday break, a Nikkei was adult 0.2 percent
at 19,959.41 points, after opening somewhat lower.

On Monday, a Nikkei fell 0.2 percent to a lowest close
since Jun 15.

For July, it strew 0.5 percent, gnawing a three-month
winning streak.

The yen gained opposite a dollar, that forsaken 0.2 percent
to 110.03 yen to a lowest levels given mid-June amid
U.S. domestic misunderstanding and doubts about either there will be
another Federal Reserve rate travel this year.

With Japanese companies’ initial entertain gain in focus,
more companies are lifting their annual outlooks compared with
the same time final year, according to Daiwa Securities.

“About 20 percent of a companies that we cover have raised
their full-year distinction outlooks so far, and that’s some-more than
last year,” pronounced Kazuhiro Takahashi, an equity strategist at
Daiwa Securities.

“Most companies have regressive dollar-yen assumptions,
while other companies such as bureau automation equipment
makers advantage from clever direct in China.”

According to a Nikkei business daily, some-more than 70 percent
of Japan’s open companies posted increases in their net
profits.

Industrial fasten builder Nitto Denko Corp, which
reported a quarterly gain on Monday, soared as most as 4.7
percent to a some-more than two-year high and contributed a large 13
points to a Nikkei benchmark index’s gains.

It lifted a distinction opinion for a April-September period
thanks to clever direct for visual film used in smartphones. It
now expects an handling distinction of 65 billion yen for a first
half, adult from formerly foresee 47.5 billion yen.

Elsewhere, Sumitomo Mitsui Financial Group surged
2.2 percent after a bank’s net distinction for a April-June
quarter rose 31 percent, helped by a sale of batch holdings.

Japan Airlines rose 2.1 percent after it lifted its
net distinction opinion to 108 billion yen from 100 billion yen for
the year by Mar and increasing a annual division payout
outlook to 96 yen per share from 90 yen.

The broader Topix gained 0.4 percent to 1,625.08 and
the JPX-Nikkei Index 400 modernized 0.5 percent to
14,464.22.

(Editing by Lisa Twaronite and Kim Coghill)

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