Earnings Speculation Dominates Japan Stocks as Astellas Gains
- Astellas leads advance among drugmakers on profit expectation
- Nintendo falls for second day after new console disappointment
This article is for subscribers only.
Earnings speculation underpinned the biggest moves in Japan’s stock market, which advanced Monday, with Astellas Pharma Inc. rising and Nintendo Co. sinking ahead of results due this week.
The Topix index climbed 0.2 percent at the close in Tokyo after spending the day fluctuating in a narrow range. About two shares rose for every one that fell. Investors are shifting their focus to earnings to gauge Japan Inc.’s health, with more than 350 companies on the Topix set to report this week, including precision-motor maker Nidec Corp. on Monday. Trading volume was subdued, with the lowest value of shares changing hands since May.