Japanese shares advanced, with the Topix (TPX) Index snapping a four-day loss, after All Nippon Airways (9202) Co. raised its operating profit forecast and Mitsui O.S.K. Lines Ltd. led shipping companies higher.
All Nippon Airways, Asia's largest listed carrier by sales, jumped 6.8 percent. Mitsui O.S.K. led a rebound among cargo lines after Jefferies Group Inc. boosted its target price. Unicharm Corp. (8113) rose 2.1 percent after a report the diaper maker will double its production capacity in India.
"Earnings aren't looking that bad," said Hisakazu Amano, who helps oversee the equivalent of $29 billion at T&D Asset Management Co. in Tokyo. "Investors aren't buying across the board, but they're picking companies that have specific strengths and that's buoying the market." (Bloomberg)
↧