Financial News

NEC and Honda dip on Nikkei 225

27/01/2012

Stocks dipped on the Nikkei 225 today

Asian stocks fell flat in trading on the Nikkei 225 today, as disappointing earnings for Japanese firms and a drop in US home sales pushed the market down.

At the close of trading, the Nikkei 225 was down 0.09 per cent as the market fell to 8,841.22.

Electronic maker NEC were one of the big fallers on the market, as share prices slipped 7.14 per cent after the firm predicted its third year of losses in the last four.

Exporters continued to dip despite Japanese prime minister Yoshihiko Noda's call for action to ease the ongoing appreciation of the yen.

Automaker Honda Motor Company slipped 1.93 per cent in the wake of the rising Japanese currency while Nippon Steel equities fell 3.48 per cent.

Speaking to Reuters, Credit Suisse director of equity Stefan Worrall explained that the market was proving bullish.

He said: "There are the reasons to take profit but at the same time there has been a clear loosening of US monetary policy it seems in the context of those (Fed) forecasts."

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