Arab Today, arab today japanese electronics giants surge as yen hits 7year low
Last Updated : GMT 05:43:04
Arab Today, arab today
Arab Today, arab today

Japanese electronics giants surge as yen hits 7-year low

Arab Today, arab today

Arab Today, arab today Japanese electronics giants surge as yen hits 7-year low

Japanese electronics giants
Tokyo - AFP

 Shares in some of Japan's biggest electronics firms surged Tuesday as the yen hit a seven-year low in response to the surprise decision last week by country's central bank to ramp up its stimulus programme.
The Bank of Japan's announcement Friday to widen its asset-purchase scheme sent the yen tumbling to 114 against the dollar by Monday lunchtime, while the Nikkei soared, with exporters the main winners.
On Tuesday, Sony jumped 11.05 percent to end at 2,301.0 yen, Panasonic soared 5.97 percent to 1,383.0 yen, camera maker Olympus was up 5.36 percent at 4,125.0 yen, while Sharp's gains were more modest, rising 2.55 percent to 281 yen.
The Nikkei closed 2.73 percent higher, its best finish since late 2007.
In forex trade, the yen was at 113.33 yen, down from 113.99 yen in New York Monday but still up from 112.72 yen late Monday in Asian trade.
A weak yen is good for major Japanese exporters as it makes them more competitive abroad and inflates their repatriated profits.
"The BoJ endorsed a weak yen in a sense," said Hirokazu Kabeya, senior strategist at Daiwa Securities.
He added that it was "natural" for Sony and its rivals to jump in line with the yen's movements.
"They're rising along with the overall market," he added.
The Nikkei, which began Friday trade below its 2013 close, soared over the past couple of sessions thanks to the BoJ easing, which will see huge amounts of yen pumped into markets.
The rise for Sony stood out as it came despite the firm reporting after trade Friday a whopping $1.0 billion six-month loss. However, it did revise up its full-year sales guidance.
Sharp and Panasonic both said they were in the black in the April-September period.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japanese electronics giants surge as yen hits 7year low Arab Today, arab today japanese electronics giants surge as yen hits 7year low

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japanese electronics giants surge as yen hits 7year low Arab Today, arab today japanese electronics giants surge as yen hits 7year low

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday