Stock Prices: Suzuki rebounds for the first time in three days with expectations of profitable growth in India
|by Kunio Yamaguchi||Wed, 28 Nov 2012 18:35:30 +0900|
The marketplace as a whole was down sharply for the first time in five days.
The market's opening session saw a sell-off of export-related stocks on news of the strong yen. The market experienced a gradual fall as Asian markets in China and Shanghai also declined.
The stock average suffered a large decline of 114.95 yen from the previous day, ending at 9308.35 yen.
Automotive stocks were weak on news that the yen rose to 81 yen against the dollar. Automotive stocks across the board declined as investors unloaded shares to book profits.
Shares of Toyota continued to fall by 55 yen to 3475 yen.
Honda was down 56 yen to 2672 yen, while Nissan showed continued weakness, rising 10 yen to 773 yen.
Daihatsu Motor was down slightly by one yen to 1408 yen.
Amid declines across the market, Suzuki rebounded for the first time in three days to 1922 yen, up three yen. The rise appears to be driven by expectations of profit growth in the Indian market.
Mitsubishi Motors was unchanged at 76 yen.