Yokogawa Electric Rises Most in a Month After Brokerage Upgrade
Yokogawa Electric Corp. (6841) climbed the most in a month in Tokyo trading after Mizuho Securities Co. boosted its rating on the maker of electronic measuring tools to “outperform” from “underperform.”
Tokyo-based Yokogawa rose 7.8 percent at the 11 a.m. trading break on the Tokyo Stock Exchange, the biggest gain since Feb. 7. The benchmark Nikkei 225 Stock Average gained 1 percent.
Shares of Yokogawa also got a boost after a report Japanese machinery orders rose more than economists expected in January, signaling manufacturers plan to boost investment. Bookings for equipment, an indicator of capital spending in three to six months, increased 4.2 percent from December, when they rose 1.7 percent, the Cabinet Office said today in Tokyo.
Orders were projected to have climbed 3 percent, according to the median forecast of 28 economists surveyed by Bloomberg News.
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