Tokyo Market

A pedestrian is reflected in an electronic board showing the graph of the recent fluctuations of Japan's Nikkei average outside a brokerage in Tokyo. © Reuters

Goodbye, carry trades

Yen's value no longer inversely correlates to Nikkei movements

TOKYO -- The link between the yen and Japanese stocks has decisively weakened, as demonstrated by the currency's dull reaction to the Nikkei Stock Average's 371-point drop in intraday trading on Friday. The long-held inverse correlation between t...

  • Crosses and candlesticks

    Specter of bank profit-taking spooks Japan's market

    TOKYO -- The prospect of domestic banks lightening their equity holdings at the start of their new fiscal year rattled the Japanese stock market this week amid creeping bearishness. The Nikkei Stock Average retreated again Friday. Shares buckled ...

  • Dollar rises to mid-119 yen range on hopes for U.S. economic recovery

    TOKYO (Kyodo) -- The U.S. dollar rose slightly to the mid-119 yen zone in Tokyo on Friday, supported by market participants' hopes for an economic recovery in the United States. At 5 p.m., the dollar fetched 119.43-46 yen compared with 119.13-23 ...

  • JGBs decline following US Treasurys; BOJ purchasing op spurs selling

    TOKYO (Dow Jones) -- Japanese government bonds were sold broadly on Friday on the back of a decline in U.S. Treasurys overnight. A buying operation by the BOJ also put selling pressure on the market. The BOJ offered to buy a total of Y1.03 trilli...

  • Nikkei ends at 2-week low after futures-related sell-off

    TOKYO (Kyodo) -- The Nikkei stock index ended at a nearly two-week low Friday as earlier gains were wiped out by a sell-off triggered by futures-related moves. The 225-issue Nikkei Stock Average ended down 185.49 points, or 0.95 percent, from Thu...

  • Tokyo stocks rebound in morning on optimism about Japan firms

    TOKYO (Kyodo) -- Tokyo stocks rose Friday morning, erasing early losses, as investors bought into a bright outlook for Japanese companies heading into a new fiscal year in April. The 225-issue Nikkei Stock Average rose 93.55 points, or 0.48 perce...

  • Dollar trades in lower 119 yen zone on fewer U.S. jobless claims

    TOKYO (Kyodo) -- The U.S. dollar traded in the lower 119 yen zone Friday morning in Tokyo, underpinned by data released the previous day showing fewer U.S. unemployment claims than expected. At noon, the dollar fetched 119.32-33 yen compared with...

  • Tokyo stocks flat as bargain hunting offsets Wall St. gloom

    TOKYO (Kyodo) -- Tokyo stocks were mostly unchanged in early trading Friday, with the market's losses at the opening following declines on Wall Street offset by buying on dips. In the first 15 minutes of trading, the 225-issue Nikkei Stock Avera...

  • Dollar trades in lower 119 yen zone in early Tokyo deals

    TOKYO (Kyodo) -- The U.S. dollar traded in the lower 119 yen zone early Friday in Tokyo, little changed from its levels overnight in New York. At 9 a.m., the dollar fetched 119.19-20 yen compared with 119.13-23 yen in New York and 118.62-64 yen i...

  • Getting on board

    Japan's retail investors start to move with the market

    TOKYO -- Having been left behind by the recent stock rally, retail investors in Japan are showing signs of shifting away from their long-held contrarian stance. The Nikkei Stock Average seemed finally to enter a real correction on Thursday, dropp...

  • Boost from carbon fiber

    Toray's fiscal 2014 profit seen hitting record

    TOKYO -- Japanese fiber maker Toray Industries will likely see operating profit jump 20% to a record high of about 125 billion yen ($1.03 billion) for the year ending Tuesday. Still, the figure falls short of the company's 130 billion yen forecas...

  • Earnings slump

    Office supplier Otsuka's first-quarter profit seen down 26%

    TOKYO -- Japanese office equipment vendor Otsuka is expected to report a 26% drop in operating profit for the January-March quarter as demand for computers nose-dived from elevated levels. Group operating profit for the period ending Tuesday is s...

  • Capturing demand abroad

    Yokogawa Electric seen beating profit forecast

    TOKYO -- Industrial instrument maker Yokogawa Electric's operating profit will likely rise 10% to roughly 28.5 billion yen ($236 million) for the year ending March 31, coming in slightly above guidance amid strong performance overseas. Plant cont...

  • Dollar plummets to 5-week low as airstrikes in Yemen spark yen surge

    TOKYO (Kyodo) -- The U.S. dollar dropped to the upper 118 yen zone in Tokyo on Thursday, briefly falling to a five-week low, after news of airstrikes on Yemeni militia by neighboring states drove demand for the safe-haven yen and added to the dollar'...

  • Nikkei falls most in 2 months after sharp Wall St declines

    TOKYO (Kyodo) -- Tokyo stocks fell sharply Thursday, with the Nikkei index posting its biggest one-day retreat in more than two months, as big declines on Wall Street cooled investor sentiment. The 225-issue Nikkei Stock Average ended down 275.08...

  • Tracking Japan's economy

    Market awaits recovery clues in February data

    TOKYO -- Market watchers will be paying close attention to Friday's release of key Japanese price and employment statistics for February, as the data could influence the Bank of Japan's monetary policy. Many observers will be sifting through the numb...

  • Dollar falls to lower 119 yen as soft US data add fuel to selloff

    TOKYO (Kyodo) -- The U.S. dollar slid into the lower 119 yen zone in Tokyo on Thursday morning, continuing its downward momentum off weak U.S. economic data out overnight amid receding expectation of an early U.S. interest rate hike that would underp...

  • Tokyo stocks plunge after sharp Wall St declines

    TOKYO (Kyodo) -- Tokyo stocks staged a sharp retreat Thursday morning as investor sentiment was cooled by big declines on Wall Street on unexpectedly weak U.S. business spending data. The 225-issue Nikkei Stock Average shed 309.32 points, or 1.57...

  • Tokyo stocks drop after sharp Wall St declines

    TOKYO (Kyodo) -- Tokyo stocks fell in early trading Thursday as market sentiment was cooled after unexpectedly weak U.S. business spending data triggered sharp declines on Wall Street. In the first 15 minutes of trading, the 225-issue Nikkei Stoc...

  • Dollar trades in mid-119 yen range in early Tokyo deals

    TOKYO (Kyodo) -- The U.S. dollar traded in the mid-119 yen range early Thursday in Tokyo, little changed from its overnight levels in New York. At 9 a.m., the dollar fetched 119.52-53 yen compared with 119.45-55 yen in New York and 119.61-63 yen ...