juichi-wako

Japanese Stocks Fall After Oil, Metal Prices Slump; Nippon Mining Declines

by on November 12, 2009

By Akiko Ikeda and Kotaro Tsunetomi Nov. 13 (Bloomberg) — Japanese stocks fell after crude-oil and metal prices slumped. Nippon Mining Holdings Inc. , Japan’s biggest copper producer and an oil refiner, sank 1.6 percent, after oil retreated 3 percent yesterday in New York to a four-week low and metals slid in London. AOC Holdings Inc. , an oil and gas explorer, dropped 1.6 percent. Nippon Sheet Glass Co., a glassmaker, slid 0.7 percent after the company reported a first- half loss. “Energy-related stocks should sag,” said Juichi Wako , a senior strategist at Tokyo-based Nomura Holdings Inc. The Nikkei 225 Stock Average fell 0.2 percent to 9,788.77 as of 9:12 a.m. in Tokyo. The broader Topix index dropped 0.2 percent to 865.73. Yesterday in New York, the Standard & Poor’s 500 Index slid 1 percent from a 13-month high on the previous day, dragged down by energy producers on bigger-than-estimated increase in oil stockpiles. Crude oil for December delivery fell 3 percent to $76.94 a barrel on the New York Mercantile Exchange yesterday, the lowest settlement since Oct. 14. The Energy Department report showed supplies of crude oil rose 1.76 million barrels to 337.7 million last week. Analysts surveyed by Bloomberg News forecast a 1 million-barrel gain. The London Metals Index , a measure of six metals including copper and zinc, dropped 0.8 percent yesterday, its steepest slump this week. To contact the reporters for this story: Akiko Ikeda in Tokyo at iakiko@bloomberg.net ; Kotaro Tsunetomi at ktsunetomi@bloomberg.net .

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Japanese Stocks Fall After Oil, Metal Prices Slump; Nippon Mining Declines

Asian Stocks Rise, Extending U.S. Rally; Asahi Glass, James Hardie Advance

by on November 5, 2009

Bloomberg:

By Jonathan Burgos Nov. 6 (Bloomberg) — Asian stocks rose, extending a surge in the U.S., after unemployment claims and worker productivity beat estimates and companies from Asahi Glass Co. to Toyota Motor Corp. boosted forecasts for this year. Asahi Glass, Asia’s largest glassmaker, climbed 5.5 percent in Tokyo, and Toyota, the world’s biggest carmaker, added as much as 1.7 percent after they narrowed their forecast annual losses. James Hardie Industries NV , the top seller of home siding in the U.S., advanced 2.1 percent in Sydney. Pioneer Corp. surged 8 percent after the maker of car-navigation systems said it needs less funds than previously expected as earnings improve. “Investors are likely to buy into exporter shares with the improvements in the U.S. economic data,” said Juichi Wako , a senior strategist at Tokyo-based Nomura Holdings Inc. The MSCI Asia Pacific Index gained 0.50 percent to 115.26 as of 9:50 a.m. in Tokyo, trimming its loss this week to 1 percent. The gauge has slumped 4.8 percent from a 13-month high on Oct. 20 amid concerns the withdrawal of stimulus measures will cause the global recovery to falter. The index is still up 64 percent from a five-year low on March 9. Japan’s Nikkei 225 Stock Average advanced 1 percent to 9,814.95. Australia’s S&P/ASX 200 Index climbed 1.5 percent in Sydney. New Zealand’s NZX 50 Index added 0.5 percent in Wellington. To contact the reporter for this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net .

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Asian Stocks Rise, Extending U.S. Rally; Asahi Glass, James Hardie Advance