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发帖数: 2665 | 1 Reuters) - The Nikkei average rose on Tuesday with buying in futures
encouraged by predictions of strong industrial output in the coming
months, while solar-energy shares gained on news that Germany will shut
all its nuclear reactors by 2022.
Japan's industrial output rose 1.0 percent for April, below analysts'
median forecast of 2.8 percent, but manufacturers sharply increased
their forecasts for May, predicting output will rise 8.0 percent
compared with the previous 2.7 percent forecast, data from the Ministry
of Economy, Trade and Industry showed.
Companies expect the recovery to continue in June with production seen
rising 7.7 percent, in a sign they are making headway in restoring
supply chains and bringing back production lines idled by the disaster
and power blackouts.
"Investors got past the weak data in April and cheered the strong
outlook by buying futures," said Tsuyoshi Segawa, an equity strategist
at Mizuho Securities.
Meanwhile, solar-energy stocks outperformed on news that Germany plans
to shut all its nuclear reactors by 2022, a decision announced on Monday
by Chancellor Angela Merkel's ruling coalition in a policy reversal
prompted by the Fukushima radiation scare in Japan.
"Most of these stocks are relatively small by market cap, so they may
not impact the index significantly, but if such buying by domestic
investors draws foreign buying there may be further rises in the index,"
Mizuho's Segawa said.
Panel-maker Sharp Corp (6753.T) rose 3.0 percent to 762 yen while panel
equipment manufacturer Ulvac (6728.T) surged 1.8 percent to 2,051 yen.
Ishii Hyoki (6336.T), whose products include silicon wafers for solar
cells, rose 1.6 percent to 1,000 yen.
The benchmark Nikkei .N225 rose 0.6 percent to 9,564.27. The broader
Topix index .TOPX gained 0.4 percent to 827.34.
Analysts said the Nikkei is expected to trade between 9,450-9,550 on
Tuesday.
However, analysts said trading is likely to be subdued again after the
market posted its lowest trading volume of the year on Monday, when U.S.
and British markets were closed for holidays.
The Nikkei has traded narrowly between 9,400 and 9,600 for the past two
weeks. Worries about a slowdown in the U.S. economy and European debt
problems have prevented sharp gains, while attractive valuations have
lent support.
"Until this Friday, dip-buying may help the market somewhat as 64
percent of shares listed on the Tokyo stock exchange's main board are
trading at or below their book value," said Hiroichi Nishi, general
manager at SMBC Nikko Securities.
Shares on the Tokyo stock exchange's main board are trading at around
book value, while stocks in the S&P 500 .SPX trade at about 2.2 times
their book value, according to Thomson Reuters Starmine.
Tokyo Electric Power Co (9501.T) dropped 3.4 percent to 315 yen after
ratings agency Standard and Poor's cut its credit rating to junk status
on Monday, saying the utility's lenders were more likely to be forced to
write off debt as part of a plan to compensate victims of the Fukushima
crisis.
(Editing by Michael Watson) | y*****l
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