Nikkei 225 Up 0.03%; Razor-Thin Gain Sets Many Milestones; Yen Soft
The Nikkei 225 Monday traded sideways but edged up 0.03% by the closing bell, pushing the bellwether index into positive territory for 12 straight trading days, a first since Feb. 1988. Also Monday, the Nikkei stock average passed 600 trillion yen in market capitalization, an all-time record. Traders are optimistic about dividends and repurchase plans, helped by a Finance Ministry survey a.m. release that revealed capital expenditure rose 7.3% YOY in Q1. A soft yen, near a 12-year low against the dollar, also boosted outlooks in export-oriented Japan, said analysts.
Leading the upside were shipper Nippon Suisan Kaisha (NISUF, 1332:Tokyo) up 4.62%; followed by advanced materials-maker Teijin (TINLF, 3401:Tokyo) up 3.89%; and then the Tokyo Electric Power Co. (TKECF, 9501:Tokyo) aka Tepco, up 3.81%, helped by lower oil prices .
On the downside were Yahoo Japan (YAHOY, 4689:Tokyo) off 3.24% after a large Friday rally on deal news; and then conglomerate Screen Holdings (DINRF, 7735:Tokyo) off 2.40%.
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