(Correct paragraph 1 spelling of company Nitto Denko)
TOKYO, Jan 27 (Reuters) - Japanese stocks gained on Wednesday as hopes rose for better corporate earnings after the International Monetary Fund raised its forecast for global growth, while shares of Nitto Denko raced to the top of the Nikkei on its revised earnings outlook.
The International Monetary Fund (IMF) raised its forecast for global economic growth in 2021 and said the coronavirus-triggered downturn last year would be nearly a full percentage point less severe than expected. of the Japanese stocks are sensitive to the global economy. Investors are taking a fresh look at Japanese shares after the IMF's global economic outlook," said Hideyuki Ishiguro, senior strategist, Daiwa Securities.
Electronic components maker Nitto Denko 6988.T jumped 5.77% after it raised its annual operating profit forecast to 90 billion yen ($867.89 million) from 75 billion yen based on growing demand for capacitors for personal computers.
Nippon Express 9062.T climbed 1.66% after the logistics firm said it was considering selling its headquarters building in Tokyo, a sale which the Yomiuri newspaper reported could fetch more than 100 billion yen. broker Monex Group 8698.T was up 1.8% following a report on its partnership with Shinsei Bank 8303.T largest percentage losers in the index were M3 Inc 2413.T , which fell 5.42%, followed by Tokyo Electric Power 9501.T , losing 2.56%, and Advantest 6857.T that shed 2.2%. ($1 = 103.7000 yen)
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.