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Stocks

Market Scramble: Japan's domestic-facing stocks bloom

Price hikes, higher household income seen lifting consumer product makers

Market players believe that Morinaga will eventually hike prices, given that its chocolate is much cheaper than European brands.

TOKYO -- Japan's domestic-demand-driven stocks are emerging as leaders, and may propel the Nikkei Stock Average to the 20,000 mark, as markets expect management to prioritize profit amid optimism for higher goods and services prices and household incomes.

The Nikkei average dropped more than 140 points in early-hours trading Monday before recovering to close down just 14 points at 19,869, suggesting that traders were poised to pounce on the dip. Amid the ups and downs, domestic-facing stocks, including those in services and foods, showed notable growth.

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