Blog > International Investing > Blog article: Japanese Stocks: Japanese shares fall on profit concerns
 | Email This Article Email This Article  | 

Japanese Stocks: Japanese shares fall on profit concerns

Posted April 13, 2008

Blogger’s Note: Japanese stocks keep getting battered by news of declining earnings due to sagging demand for Japanese exports. Our recent TFN interview with Martin Hutchinson about his outlook for the Japanese market opened up the possibility that we’re approaching an excellent buying opportunity. So far, however, Japanese stock prices keep falling. Read today’s full Bloomberg.com report.

Baltimore — (TFN): Japanese stocks slumped after General Electric Co. said profit unexpectedly dropped, heightening concern earnings forecasts by analysts and companies are overly optimistic.

Canon Inc., which the Nikkei newspaper said on April 12 is likely to report a 16 percent decline in profit for the first quarter, was bid lower. Nissan Motor Co., the most reliant on U.S. sales among Japan’s largest automakers, sank 2.8 percent. GE, the second-largest U.S. company by market value, said first quarter profit fell 12 percent, while analysts had predicted a gain.

Banks including Mitsubishi UFJ Financial Group Inc. were headed for a lower open. Citigroup Inc. is likely to report $10 billion in valuation losses this week when reporting first- quarter earnings, while Merrill Lynch & Co. will announce a $5 billion writedown, the Sunday Times of London said yesterday, citing analysts it didn’t identify.

Read on for the full Bloomberg.com story…

Don’t forget to watch our TFN interview on Japanese stocks…

****Make sure you sign up for our FREE TFN News Feed for breaking news, special reports and new financial videos. Sign up through your favorite reader here. Or, if you prefer, have the feed delivered to your email.


Related Articles


Posted by TFN-International · Filed Under International Investing 

Comments

close Reblog this comment
Powered by Disqus · Learn more
blog comments powered by Disqus