Japan's Nikkei hits seven-year high

NKY:IND Open 15036.87 High 15089.9 Low 14919.71 Close 14936.51

Japan's Nikkei got a seven-year high Tuesday when market was filled with the rumors that Bank o f Japan buying stocks. It closed at 17663.22 which was up by 0.4%.

After Moody's investment service rated Japan's credit rating from A1 to Aa3, the index had fallen. After the national sales tax was delayed, Moody's move high lighted Japan's economy after an increase in the national sales tax was delayed.

Analysts are still positive about the investment. They are still affected by the activities of BoJ.

The Topix gained 0.9 percent to 1,422.82, and the JPX-Nikkei Index 400 advanced 0.9 percent to 12,946.63.

High:17,687.70
Low:17,476.42
Day Range:17,476.42 - 17,687.70
52-Week Range:13,885.11 - 17,687.70
Year To Date:+10.13%1-Year:+14.73%

Nissan has reported a 25% increase in half-year profits

Nissan reported net income of 237 billion Japanese yen($2.08billion). It's 25% more in half-year profits. The Japanese car maker is supported by strong sales in North America and there are signs of stabilization in western Europe.
With £1.3bn net income, it said it had seen "strong demand" for its new products and there is rising sales in its key market of North America.

Nissan and other car makers in Japan have strong advantage due to weaker yen. This is making Japanese products cheaper when they are exported. The yen depreciated after Friday's surprise decision from the Bank of  Japan to expand it's stimulus measure. The central bank is continuously attempting to boost economy and lift inflation in Japan.

The cost of Japanes goods sold abroad are affected by weaker yen. Nissan said that weaker yen would help to increase sales in China and some other nations. Nissan's chief competitive officer Hiroto Saikawa said that "all in all we think it is positive for industry and the economy".

At the beginning of this year, there was a 10% rise in Nissan's full-year profits which was made possible by increased sales, weaker yen and reduced cost.

Nissan's sales was up by 5.8% compared with the same period a year ago. It sold 2.58 million vehicles in the six-month period.

Carlos Ghosn said,"Nissan successfully overcame challenging market conditions in the first-half of the fiscal year, delivering solid revenues and profitability amid encouraging demand for our latest models."

"This offset slower demand in Japan and continued volatility in Russia and other emerging economies."

Nissan's sales is affected by a slowdown in China. It's the worlds largest car market. In addition to that Japan's consumers are still recovering from a sales tax hike in April. While things are going on it's way Nissan revised its full-year sales forecast down by 200,000 to 5.45 million reflecting lower than expected sales in China and other new markets.

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52wk low:16.45

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