Nikkei225 Index closed higher by 1.7% at 22,937

  • Earnings season is underway, Toyota just reported a small beat on its earnings, 1.07T JPY vs 1.04 expected
  • Listed companies are expected to declare anywhere close to a 20% increase in profits this year…
  • Finmin Aso remarked overnight that US forces are important for Japan security,(but..) will not pursue FTA to reduce US trade deficit 
  • Japan likely to impose a 3JPY (hummmm) tax hike on tobacco , spread over 3 years. Well all smalls help I suppose.
  • Remember this article about investors possibly jumping on the air balloon
  • USDJPY moved up in sympathy with the equity markets to open European trading at 114.00 rater having failed yesterday’s break through 114.50.
    I expect a rangy market with JPY remaining on the defensive on small rallies.Base long usdjpy, might be looking at some crosses, NOKJPY a candidate
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