Japan's Nikkei rises on Advantest profit outlook but Samsung weighs
SPY•SPY•SPY•SPY•Japan's Nikkei rose 0.3% to 64,131.28 after Advantest lifted its annual operating profit forecast by 14%, while Samsung shares fell despite record earnings. The broader Topix declined 0.3% to 3,979.89.
Advantest gained 5.4% after raising its annual operating profit forecast by 14% on Wednesday, contributing 408 points to the Nikkei's 177-point net gain. The index had risen as much as 1.3% before Samsung's announcement.
The Topix fell 0.3% to 3,979.89. Tokyo Electron slid 0.9% and SoftBank Group eased 0.6%, while Hitachi fell 8.7% despite raising its full-year profit forecast. Of the Nikkei's 225 components, 123 fell, 99 rose and three were unchanged.
Japanese companies were due to report results on Thursday and Friday, ahead of a Bank of Japan policy decision on Friday. Equities strategist Maki Sawada said the market was showing some nervousness and investors might be taking a risk-averse stance.
