Close watch: Tokyo investors eye Japanese earnings

TOKYO: Tokyo investors will keep a close eye on US data and other Japanese corporate earnings with firms including Sony, Toyota and Panasonic, according to a report. After the Federal Reserve this week reduced its stimulus programme by another $10 billion a month to $65 billion, following a similar cut in December, investors will be looking for more clues about the state of the worlds’ biggest economy’. Tokyo Securities Strategist, Hiroaki Hiwate said that investors were seemingly taking profits ahead as the yen firmed slightly. “Looking ahead, the US economic recovery will be the main focus as the majority of Asian markets are closed for Lunar New Year holidays,” Hiwate said. On currency markets, the dollar bought 102.47 yen in late Asian trade, down from 102.71 yen in New York. Japanese corporate earnings for the nine months to December have seen mixed results with many notching up stronger profits.

Published in The Express Tribune, February 2^nd 2014.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.