Bloomberg (27/12) -- Japanese shares swung between gains and losses after the Topix index yesterday closed at its highest since 2008, as shippers led gains while Takeda Pharmaceutical Co. tumbled.
Kawasaki Kisen Kaisha Ltd. advanced 3.1 percent, leading shipping lines higher. J. Front Retailing Co. climbed 1.8 percent after the department-store firm’s operating profit beat analyst estimates. Takeda, Japan’s largest pharmaceutical company, sank 5.1 percent after ending the development of a diabetes drug on concerns about liver safety.
The Topix gained 0.3 percent to 1,283.28 as of 12:45 p.m. in Tokyo, after falling as much as 0.3 percent. The measure is poised for a 1.7 percent increase this week after yesterday closing at its highest since August 2008. The Nikkei 225 Stock Average slid 0.4 percent to 16,108.02 today after advancing to its highest since November 2007 yesterday. The yen traded near a five-year low against the dollar.
Topix shares traded at 15.6 times estimated profits yesterday, 30 percent below the average of 22.2 since 2001, according to data compiled by Bloomberg. Earnings per share for companies on the gauge are forecast to jump 12 percent in the next 12 months, the data show. Analysts expect the yen to drop to 109 in the fourth quarter of 2014, estimates compiled by Bloomberg show.
sumber : rf-berjangka.com