Japan Shares Rise in Thin Trading as Investors Await Earnings
- Retailers, banks and fishery stocks climb while exporters drop
- Nikkei 225 Volatility Index sinks to lowest since August
Japanese shares edged higher in light trading before earnings season begins in earnest, with companies benefiting from domestic demand advancing while carmakers and other exporters slid as the yen gained.
The benchmark Topix index rose less than 0.1 percent in Tokyo on volume 9.4 percent lower than the 30-day average, moving less than 0.5 percent for the fifth straight day. Volatility on the Nikkei 225 Stock Average sank to its lowest level in about two months. Retailers and banks provided the biggest boost to the Topix, while auto shares and electronics makers were the largest drags. More than 350 of the measure’s companies report results next week, with analysts projecting a 9.2 percent growth in earnings per share. The Topix is trading at about 14 times projected earnings, compared with its three-year average multiple of 14.5.