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Business Standard
5 days ago
- Business
- Business Standard
Japanese markets rise sharply to hit a fresh record high
Japanese markets rose sharply to hit a fresh record high, extending the rally to a sixth straight session on tariff optimism and Fed rate-cut hopes. The Nikkei average hit an intraday high of 43,451.46 before closing up 1.30 percent at a record high level of 43,274.67. The broader Topix index settled 0.83 percent higher at 3,091.91. Among the prominent gainers, Advantest, Renesas Electronics, Tokyo Electric Power and Yokohama Rubber surged 5-8 percent. Athletic apparel company Asics soared 18 percent after raising its full-year by Capital Market - Live News
Economic Times
5 days ago
- Business
- Economic Times
Japan's Nikkei tops 43,000 for first time ever, extends rally to sixth session
Japan's Nikkei share average breached the 43,000-mark for the first time on Wednesday, with the broader Topix index also scaling a fresh all-time peak, tracking Wall Street's overnight gains and extending the rally to a sixth straight session. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Japan's Nikkei share average breached the 43,000-mark for the first time on Wednesday, with the broader Topix index also scaling a fresh all-time peak, tracking Wall Street's overnight gains and extending the rally to a sixth straight Nikkei gained as much as 1.7% to touch an unprecedented 43,451.46 before ending the day at a record-high closing level of 43, took its winning run to 7.4% since August 4. Monday of this week was a national holiday in broader Topix advanced as much as 1.2% to a record 3,103.31 points, before finishing at 3,091.91 - also booking a sixth-straight session of the S&P 500 and Nasdaq ended at record highs as a moderate reading of July inflation bolstered bets for a Federal Reserve interest rate cut next month."A sense of relief is permeating through markets" following the U.S. Consumer Price Index (CPI) data, leading Japanese stocks "to take a step higher," said Maki Sawada, an equities strategist at Nomura Securities At the same time, "there are signs that the Nikkei is overheated after its extremely steep rally, and a steep drop at any time wouldn't come as any surprise," she Nikkei's relative strength index (RSI) rose above 75, well beyond the 70 line that many analysts consider indicative of an overheated market. The RSI was at a similar level on July 24, and the Nikkei fell in the following four the Nikkei's 225 components, 151 rose versus 74 that shares stood out, with chipmaker Renesas Electronics jumping almost 7%, chip-testing equipment maker Advantest rising 5.4% and Sony Group gaining 3.5%.A strong earnings season continued to power big advances for some stocks, with tyre maker Yokohama Rubber vaulting 8.3% to be the Nikkei's biggest percentage apparel company Asics soared nearly 18% after its favorable financial results to be the best-performing Topix stock.
RTÉ News
5 days ago
- Automotive
- RTÉ News
Japan's Nikkei tops 43,000 for first time ever
Japan's Nikkei share average breached the 43,000-mark for the first time today, with the broader Topix index also scaling a fresh all-time peak, tracking Wall Street's overnight gains and extending the rally to a sixth session in a row. The Nikkei gained as much as 1.7% to touch an unprecedented 43,451.46 before ending the day at a record-high closing level of 43,274.67. That took its winning run to 7.4% since August 4. Monday of this week was a national holiday in Japan. The broader Topix advanced as much as 1.2% to a record 3,103.31 points, before finishing at 3,091.91 - also booking a sixth session of gains in a row. Overnight, the S&P 500 and Nasdaq ended at record highs as a moderate reading of July inflation bolstered bets for a Federal Reserve interest rate cut next month. "A sense of relief is permeating through markets following the US consumer price index data, leading Japanese stocks to take a step higher," said Maki Sawada, an equities strategist at Nomura Securities. At the same time, "there are signs that the Nikkei is overheated after its extremely steep rally, and a steep drop at any time wouldn't come as any surprise," she added. Of the Nikkei's 225 components, 151 rose compared to 74 that fell. Tech shares stood out, with chipmaker Renesas Electronics jumping almost 7%, chip-testing equipment maker Advantest rising 5.4% and Sony Group gaining 3.5%. A strong earnings season continued to power big advances for some stocks, with tyre maker Yokohama Rubber vaulting 8.3% to be the Nikkei's biggest percentage gainer.
Yahoo
01-07-2025
- Business
- Yahoo
Asian Market's Estimated Undervalued Stock Selections For July 2025
As global markets experience a rally, buoyed by easing geopolitical tensions and new trade agreements, Asian indices have also shown positive momentum with Japan's Nikkei 225 Index and China's CSI 300 Index posting gains. In this environment of cautious optimism, identifying undervalued stocks becomes crucial for investors seeking opportunities amidst the broader economic developments. Name Current Price Fair Value (Est) Discount (Est) Wenzhou Yihua Connector (SZSE:002897) CN¥38.31 CN¥75.85 49.5% T'Way Air (KOSE:A091810) ₩2010.00 ₩3992.32 49.7% Taiwan Union Technology (TPEX:6274) NT$232.50 NT$460.32 49.5% SIGMAXYZ Holdings (TSE:6088) ¥1222.00 ¥2443.74 50% Renesas Electronics (TSE:6723) ¥1772.00 ¥3535.56 49.9% Prospect Logistics and Industrial Freehold and Leasehold Real Estate Investment Trust (SET:PROSPECT) THB7.20 THB14.38 49.9% Hibino (TSE:2469) ¥2396.00 ¥4771.44 49.8% Good Will Instrument (TWSE:2423) NT$43.75 NT$86.66 49.5% Forum Engineering (TSE:7088) ¥1200.00 ¥2376.34 49.5% Ficont Industry (Beijing) (SHSE:605305) CN¥27.86 CN¥55.72 50% Click here to see the full list of 274 stocks from our Undervalued Asian Stocks Based On Cash Flows screener. Let's explore several standout options from the results in the screener. Overview: Zhaojin Mining Industry Company Limited is an investment holding company involved in the exploration, mining, processing, smelting, and sale of gold and other metallic products both in China and internationally, with a market cap of approximately HK$72.26 billion. Operations: The company generates revenue through its activities in the exploration, mining, processing, smelting, and sale of gold and other metallic products across China and international markets. Estimated Discount To Fair Value: 12.1% Zhaojin Mining Industry, trading at a discount to its fair value (HK$20.4 vs. HK$23.22), shows potential as an undervalued stock based on cash flows despite its debt not being well covered by operating cash flow. The company reported substantial earnings growth in Q1 2025 with net income of CNY 659.18 million, up from CNY 221.38 million a year ago, and forecasts suggest significant annual profit growth of 28.7% over the next three years. Our expertly prepared growth report on Zhaojin Mining Industry implies its future financial outlook may be stronger than recent results. Click to explore a detailed breakdown of our findings in Zhaojin Mining Industry's balance sheet health report. Overview: Guangdong Marubi Biotechnology Co., Ltd. focuses on the research, design, production, sale, and service of cosmetics in China with a market capitalization of CN¥17.62 billion. Operations: The company's revenue is primarily derived from its Personal Products segment, which generated CN¥3.16 billion. Estimated Discount To Fair Value: 46.2% Guangdong Marubi Biotechnology, trading at CN¥43.94, is significantly undervalued compared to its estimated fair value of CN¥81.73, with shares priced 46.2% below this benchmark. Despite a high level of non-cash earnings and a volatile share price recently, the company posted strong Q1 2025 results with sales increasing to CN¥846.65 million from CN¥661.39 million year-on-year and net income rising to CN¥135.05 million from CN¥110.63 million, highlighting robust revenue growth prospects above market averages. Our earnings growth report unveils the potential for significant increases in Guangdong Marubi Biotechnology's future results. Click here to discover the nuances of Guangdong Marubi Biotechnology with our detailed financial health report. Overview: PixArt Imaging Inc. and its subsidiaries specialize in researching, designing, producing, and selling CMOS image sensors and related ICs across Taiwan, Hong Kong, China, Japan, and other international markets with a market cap of approximately NT$36.41 billion. Operations: Revenue Segments (in millions of NT$): The company generates revenue through its operations in CMOS image sensors and related integrated circuits across various regions including Taiwan, Hong Kong, China, Japan, and other international markets. Estimated Discount To Fair Value: 33.6% PixArt Imaging, trading at NT$244, is undervalued relative to its fair value of NT$367.34. The company reported strong Q1 2025 results with sales rising to TWD 2.35 billion from TWD 1.75 billion year-on-year and net income increasing to TWD 545.21 million from TWD 291.16 million, reflecting robust growth prospects above market averages despite an unstable dividend track record and recent changes in corporate bylaws approved in May 2025. In light of our recent growth report, it seems possible that PixArt Imaging's financial performance will exceed current levels. Click here and access our complete balance sheet health report to understand the dynamics of PixArt Imaging. Take a closer look at our Undervalued Asian Stocks Based On Cash Flows list of 274 companies by clicking here. Have you diversified into these companies? Leverage the power of Simply Wall St's portfolio to keep a close eye on market movements affecting your investments. Enhance your investing ability with the Simply Wall St app and enjoy free access to essential market intelligence spanning every continent. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SEHK:1818 SHSE:603983 and TPEX:3227. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Reuters
30-06-2025
- Automotive
- Reuters
Wolfspeed files for bankruptcy protection to cut worsening debt, shares jump
June 30 (Reuters) - Wolfspeed (WOLF.N), opens new tab said on Monday it has filed for Chapter 11 bankruptcy protection, as the chipmaker grapples with huge debt amid slowing demand from electric vehicle and industrial markets. Shares of the company — which makes chips using silicon carbide, a more energy-efficient material than traditional silicon — rose 64.5% in extended trading. Wolfspeed raised going-concern doubts in May, as deepening economic uncertainty stemming from changing U.S. trade policies, combined with weakening demand, triggered a series of financial challenges. The company said it had $1.3 billion in cash as of the third quarter and expects to emerge from the Chapter 11 by the end of the quarter. "Wolfspeed is continuing to operate as usual throughout the process, including delivering silicon carbide materials and devices to its customers and paying its vendors in the ordinary course," it said in a statement. Upon emergence from the bankruptcy, Wolfspeed expects to have reduced its overall debt by about 70%, or nearly $4.6 billion, as well as a reduction of its annual total cash interest payments by approximately 60%. Earlier this month, Wolfspeed said it had reached a restructuring agreement with creditors and Renesas Electronics' (6723.T), opens new tab U.S. subsidiary, which would result in $275 million in fresh financing backed by some existing creditors and help reduce debt.
