Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
📈 Free Gift Friday: Instantly Copy Legendary Investors' PortfoliosCopy for Free

Japan stocks drift lower ahead of Toyota earnings

Published 06/08/2020, 03:42
Updated 06/08/2020, 03:48
© Reuters.

By Stanley White
TOKYO, Aug 6 (Reuters) - Japanese shares edged lower in
choppy trade on Thursday, weighed down by concerns about
corporate profits ahead of Toyota Motor Corp's 7203.T earnings
announcement later in the day.
The Nikkei index .N225 ticked down 0.47% to 22,408.67 by
0213 GMT, with consumer staples and technology companies falling
the most.
The broader Topix .TOPX fell 0.39% to 1,548.53.
A series of disappointing earnings and forecasts from
domestic companies due to the COVID-19 pandemic have weighed on
the Japanese market for the past few sessions.
Although some investors argue that the decline in corporate
profits has bottomed out and earnings will gradually recover.
Slated to report on Thursday, Toyota will announce its
results in the afternoon, while Games maker Nintendo Co Ltd
7974.T and Kobe Steel 5406.T will release earnings after the
closing bell.
The underperformers among the top 30 core Topix were
automaker Honda Motor Co Ltd 7267.T , down 3.80%, followed by
skin care and cleaning product maker Kao Corp 4452.T , losing
1.79%.
Honda fell after it forecast a 68% decrease in annual
operating profit and posted its worst quarterly operating loss
since the March 2009 quarter. The stocks that gained the most among the Topix 30 names
were commodities trader Mitsui & Co Ltd 8031.T , up 1.87%,
followed by insurer Tokio Marine Holdings Inc 8766.T .
There were 156 advancers on the Nikkei index against 68
decliners.
The volume of shares traded on the Tokyo Stock Exchange's
main board .TOPX was 0.42 billion, compared with the average
of 1.2 billion in the past 30 days.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.