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May 10, 2013, 4:31 a.m. EDT

Japan stocks jump as dollar tops ¥100

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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Japanese stocks were propelled higher Friday after the U.S. dollar climbed atop the 100-yen level for the first time in four years, stoking sharp gains in exporters.

Most other regional markets also rose, although gains were capped as stocks on Wall Street dropped overnight, taking a breather after key U.S. benchmarks closed at record highs on multiple occasions recently.

/zigman2/quotes/210561789/realtime/sampled USDJPY 108.3650, -0.0490, -0.0452%
/zigman2/quotes/210597971/delayed NIK 22,492.68, +40.82, +0.18%
Dollar-Yen Vs. Nikkei Stock Average
Six-month price chart

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK +0.18%  finished the day 2.9% higher at 14,607.54, clinching a weekly gain of 6.7%. The broader Topix /zigman2/quotes/210598092/delayed JP:180460 -0.13%  gained 2.4% to 1,210.60. The surge came as the dollar overcame stiff resistance seen in the last few weeks to climb over the psychologically important ¥100 level overnight in the U.S.

“With Japan at the beginning of its two-year expansion project, any talk of the U.S. winding back its stimulus will see the yen continue to weaken again the [dollar],” said IG Markets strategist Evan Lucas.

“The 2% inflation target domestically is all the Bank of Japan is after, and it will continue to ramp up stimulus measures if this does not occur fast enough, which will push the pair higher,” Evans said.

After breaking past the ¥100 barrier in U.S. trade, the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.0452% rallied further in the Asian session, and was fetching ¥101.30 by late afternoon in Hong Kong. Late Thursday in North America, the greenback was buying ¥100.48.

Shares of companies with a significant international presence got a boost on expectations the weakened yen would provide them a competitive edge and increase their repatriated profits.


Reuters

Casio Computer Co. /zigman2/quotes/202492162/delayed JP:6952 -0.53%   /zigman2/quotes/206719136/delayed CSIOY +0.85% , Panasonic Corp. /zigman2/quotes/201785256/delayed JP:6752 -2.07% /zigman2/quotes/202333059/delayed PCRFY -2.13% , Komatsu Ltd. /zigman2/quotes/204002437/delayed JP:6301 +0.73% /zigman2/quotes/206435044/delayed KMTUF -1.43% and Japan Tobacco Inc. /zigman2/quotes/208255672/delayed JP:2914 -0.25% /zigman2/quotes/208949046/delayed JAPAF -0.68%  all climbed 3% or more.

Currency-sensitive car-maker shares saw particularly strong gains, with Mazda Motor Corp. /zigman2/quotes/204777714/delayed JP:7261 -0.81% /zigman2/quotes/206326885/delayed MZDAY -0.02% rising 7.2%, Nissan Motor Co. /zigman2/quotes/208298710/delayed JP:7201 +0.61% /zigman2/quotes/207656007/delayed NSANY -0.87% up 3%, Mitsubishi Motors Corp. /zigman2/quotes/202404490/delayed JP:7211 -0.61%   /zigman2/quotes/200876874/delayed MMTOF +2.27%  adding 5.2%, and Subaru maker Fuji Heavy Industries Ltd. /zigman2/quotes/203522406/delayed JP:7270 +0.33%   /zigman2/quotes/203008939/delayed FUJHF -2.05%  jumping 11.3%.

Trend Micro Inc. /zigman2/quotes/206023532/delayed JP:4704 -1.32% /zigman2/quotes/205788499/delayed TMICY +0.95%  soared 17.8% after announcing a sharp growth in quarterly profit.

Nikon Corp. /zigman2/quotes/203281219/delayed JP:7731 -1.53%   /zigman2/quotes/209396469/delayed NINOY -1.11%  spiked 14.6%, catching an additional bid a day after issuing a better-than-expected earnings forecast.

Sony Corp. /zigman2/quotes/201361720/delayed JP:6758 -0.94%   /zigman2/quotes/208567357/composite SNE -1.38%  added 2.5%, after it posted its first annual profit in five years.

Suzuki Motor Corp. /zigman2/quotes/201794956/delayed JP:7269 +0.70% /zigman2/quotes/201304995/delayed SZKMY +0.47%  gained 7.5% after it reported a record profit for the financial year ended March 31.

Renesas Electronics Corp. /zigman2/quotes/203872935/delayed JP:6723 +1.94%   /zigman2/quotes/201351352/delayed RNECY +1.68%  gained 3% despite reporting a wider annual loss, after the Nikkei newspaper cited a top company official as saying the firm was currently drawing up turnaround plans.

/zigman2/quotes/210597971/delayed
JP : Nikkei
22,492.68
+40.82 +0.18%
Volume: 0.00
Oct. 18, 2019 3:15p
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/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,621.99
-2.17 -0.13%
Volume: 0.00
Oct. 18, 2019 3:00p
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/zigman2/quotes/210561789/realtime/sampled
US : Tullet Prebon
108.3650
-0.0490 -0.0452%
Volume: 0.0000
Oct. 18, 2019 4:59p
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/zigman2/quotes/202492162/delayed
JP : Japan: Tokyo
¥ 1,703.00
-9.00 -0.53%
Volume: 1.31M
Oct. 18, 2019 3:00p
P/E Ratio
19.24
Dividend Yield
2.64%
Market Cap
¥414.40 billion
Rev. per Employee
¥24.53M
loading...
/zigman2/quotes/206719136/delayed
US : U.S.: OTC
$ 159.75
+1.34 +0.85%
Volume: 0.00
Oct. 17, 2019 12:16p
P/E Ratio
20.06
Dividend Yield
2.11%
Market Cap
$3.82 billion
Rev. per Employee
$222,207
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/zigman2/quotes/201785256/delayed
JP : Japan: Tokyo
¥ 888.20
-18.80 -2.07%
Volume: 10.02M
Oct. 18, 2019 3:00p
P/E Ratio
7.50
Dividend Yield
3.38%
Market Cap
¥2071.87 billion
Rev. per Employee
¥29.74M
loading...
/zigman2/quotes/202333059/delayed
US : U.S.: OTC
$ 8.24
-0.18 -2.13%
Volume: 120,115
Oct. 18, 2019 3:59p
P/E Ratio
7.71
Dividend Yield
2.72%
Market Cap
$19.09 billion
Rev. per Employee
$269,385
loading...
/zigman2/quotes/204002437/delayed
JP : Japan: Tokyo
¥ 2,488.00
+18.00 +0.73%
Volume: 5.14M
Oct. 18, 2019 3:00p
P/E Ratio
9.75
Dividend Yield
4.42%
Market Cap
¥2349.41 billion
Rev. per Employee
¥45.51M
loading...
/zigman2/quotes/206435044/delayed
US : U.S.: OTC
$ 22.72
-0.33 -1.43%
Volume: 0.00
Oct. 17, 2019 12:12p
P/E Ratio
9.89
Dividend Yield
N/A
Market Cap
$21.67 billion
Rev. per Employee
$412,180
loading...
/zigman2/quotes/208255672/delayed
JP : Japan: Tokyo
¥ 2,391.50
-6.00 -0.25%
Volume: 3.40M
Oct. 18, 2019 3:00p
P/E Ratio
10.78
Dividend Yield
6.44%
Market Cap
¥4241.94 billion
Rev. per Employee
¥34.64M
loading...
/zigman2/quotes/208949046/delayed
US : U.S.: OTC
$ 21.76
-0.15 -0.68%
Volume: 465.00
Oct. 18, 2019 12:34p
P/E Ratio
10.87
Dividend Yield
N/A
Market Cap
$38.60 billion
Rev. per Employee
$313,662
loading...
/zigman2/quotes/204777714/delayed
JP : Japan: Tokyo
¥ 991.00
-8.10 -0.81%
Volume: 3.08M
Oct. 18, 2019 3:00p
P/E Ratio
12.98
Dividend Yield
3.53%
Market Cap
¥624.12 billion
Rev. per Employee
¥71.32M
loading...
/zigman2/quotes/206326885/delayed
US : U.S.: OTC
$ 4.55
-0.0010 -0.02%
Volume: 116,016
Oct. 18, 2019 3:59p
P/E Ratio
13.22
Dividend Yield
2.31%
Market Cap
$5.75 billion
Rev. per Employee
$646,191
loading...
/zigman2/quotes/208298710/delayed
JP : Japan: Tokyo
¥ 689.30
+4.20 +0.61%
Volume: 11.67M
Oct. 18, 2019 3:00p
P/E Ratio
12.86
Dividend Yield
5.08%
Market Cap
¥2697.31 billion
Rev. per Employee
¥85.36M
loading...
/zigman2/quotes/207656007/delayed
US : U.S.: OTC
$ 12.47
-0.11 -0.87%
Volume: 83,262
Oct. 18, 2019 3:59p
P/E Ratio
13.01
Dividend Yield
6.80%
Market Cap
$24.86 billion
Rev. per Employee
$773,563
loading...
/zigman2/quotes/202404490/delayed
JP : Japan: Tokyo
¥ 490.00
-3.00 -0.61%
Volume: 2.29M
Oct. 18, 2019 3:00p
P/E Ratio
6.40
Dividend Yield
4.08%
Market Cap
¥729.27 billion
Rev. per Employee
¥80.91M
loading...
/zigman2/quotes/200876874/delayed
US : U.S.: OTC
$ 4.50
+0.10 +2.27%
Volume: 0.00
Oct. 17, 2019 9:35a
P/E Ratio
6.52
Dividend Yield
N/A
Market Cap
$6.73 billion
Rev. per Employee
$733,027
loading...
/zigman2/quotes/203522406/delayed
JP : Japan: Tokyo
¥ 3,046.00
+10.00 +0.33%
Volume: 1.72M
Oct. 18, 2019 3:00p
P/E Ratio
13.84
Dividend Yield
4.73%
Market Cap
¥2335.55 billion
Rev. per Employee
¥95.93M
loading...
/zigman2/quotes/203008939/delayed
US : U.S.: OTC
$ 28.20
-0.59 -2.05%
Volume: 0.00
Oct. 17, 2019 5:19p
P/E Ratio
14.24
Dividend Yield
N/A
Market Cap
$21.54 billion
Rev. per Employee
$868,462
loading...
/zigman2/quotes/206023532/delayed
JP : Japan: Tokyo
¥ 5,250.00
-70.00 -1.32%
Volume: 482,300
Oct. 18, 2019 3:00p
P/E Ratio
25.78
Dividend Yield
3.14%
Market Cap
¥729.60 billion
Rev. per Employee
¥26.87M
loading...
/zigman2/quotes/205788499/delayed
US : U.S.: OTC
$ 49.29
+0.47 +0.95%
Volume: 165.00
Oct. 18, 2019 5:19p
P/E Ratio
26.89
Dividend Yield
2.64%
Market Cap
$6.72 billion
Rev. per Employee
$243,287
loading...
/zigman2/quotes/203281219/delayed
JP : Japan: Tokyo
¥ 1,355.00
-21.00 -1.53%
Volume: 1.85M
Oct. 18, 2019 3:00p
P/E Ratio
9.22
Dividend Yield
4.43%
Market Cap
¥527.91 billion
Rev. per Employee
¥34.15M
loading...
/zigman2/quotes/209396469/delayed
US : U.S.: OTC
$ 12.51
-0.14 -1.11%
Volume: 34,714
Oct. 18, 2019 3:59p
P/E Ratio
9.46
Dividend Yield
3.01%
Market Cap
$4.86 billion
Rev. per Employee
$309,299
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 6,449.00
-61.00 -0.94%
Volume: 4.65M
Oct. 18, 2019 3:00p
P/E Ratio
9.90
Dividend Yield
0.62%
Market Cap
¥8040.64 billion
Rev. per Employee
¥72.37M
loading...
/zigman2/quotes/208567357/composite
US : U.S.: NYSE
$ 59.21
-0.83 -1.38%
Volume: 1.09M
Oct. 18, 2019 6:30p
P/E Ratio
10.15
Dividend Yield
0.39%
Market Cap
$73.82 billion
Rev. per Employee
$654,652
loading...
/zigman2/quotes/201794956/delayed
JP : Japan: Tokyo
¥ 4,914.00
+34.00 +0.70%
Volume: 1.84M
Oct. 18, 2019 3:00p
P/E Ratio
16.83
Dividend Yield
1.51%
Market Cap
¥2267.00 billion
Rev. per Employee
¥59.39M
loading...
/zigman2/quotes/201304995/delayed
US : U.S.: OTC
$ 180.50
+0.85 +0.47%
Volume: 6,742
Oct. 18, 2019 3:56p
P/E Ratio
17.22
Dividend Yield
1.24%
Market Cap
$20.89 billion
Rev. per Employee
$538,402
loading...
/zigman2/quotes/203872935/delayed
JP : Japan: Tokyo
¥ 734.00
+14.00 +1.94%
Volume: 5.34M
Oct. 18, 2019 3:00p
P/E Ratio
565.31
Dividend Yield
N/A
Market Cap
¥1251.24 billion
Rev. per Employee
¥36.92M
loading...
/zigman2/quotes/201351352/delayed
US : U.S.: OTC
$ 3.32
+0.06 +1.68%
Volume: 5,190
Oct. 18, 2019 3:48p
P/E Ratio
572.41
Dividend Yield
N/A
Market Cap
$11.53 billion
Rev. per Employee
$334,299
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