Japan's Nikkei rises on Advantest profit outlook but Samsung weighs
EWJ•Japan's Nikkei gained 0.3% to 64,131.28 in the morning session, supported by Advantest's 14% increase to its annual operating profit forecast, while Samsung's share decline weighed on sentiment.
1. Nikkei advances on Advantest
The Nikkei rose 0.3% to 64,131.28 after earlier gaining as much as 1.3%. Advantest climbed 5.4% and contributed 408 points to the index's 177-point net gain after raising its annual operating profit forecast by 14% on Wednesday.
2. Samsung dampens sentiment
Samsung shares tumbled despite record earnings, cooling the market's early gains. The broader Topix fell 0.3% to 3,979.89. Tokyo Electron slipped 0.9%, SoftBank Group eased 0.6%, and Hitachi fell 8.7% despite raising its full-year profit forecast.
3. Investors await key events
Japan, South Korea and the United States are in the midst of technology earnings season. Hundreds of Japanese companies are due to report results on Thursday and Friday, and the Bank of Japan will announce a policy decision on Friday. Nomura Securities strategist Maki Sawada said investors may be taking a risk-averse stance ahead of the events.
