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JAPAN STOCKS: Japanese shares are trading slightly lower at the halfway point of the morning session, weakened by a stronger yen despite strong US corporate earnings results overnight.

July 19, 2012
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By MNI Feed
Need to Know News

JAPAN STOCKS: Japanese shares are trading slightly lower at the halfway point of the morning session, weakened by a stronger yen despite strong US corporate earnings results overnight. Japanese courier firm Yamato Holdings Co (9064) is falling after reporting a drop in quarterly profit, now down 2.82% at Y1239, while financials and steelmakers are also lower. MS&AD Insurance Group Holdings (8725) is falling 4.12%, Sumitomo Mitsui Trust Holdings (8309) is dropping 2.50%, and steel producer JFE Holdings Inc (5411) is shedding 3.29%. Meanwhile, electronics and automakers are providing support, with laptop maker Toshiba Corp (6502) rising 3.19% after US joint venture parter SanDisk Corp reported strong quarterly sales overnight, camera maker Nikon Corp (7731) is advancing 1.55%, while Mazda Motor Corp (7261) is gaining 1.06%. The Nikkei 225 index is now lower 0.28% at 8,770.59.

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