Nikkei rises 1.1% on Tankan data

Japan share market finished the session sharp higher on Tuesday, 01 July 2014, lifted by the central bank's Tankan survey data for June that indicated companies raised their investment plans more than forecast. The Nikkei 225 index advanced 1.08% to finish at 15326.20, while the Topix index of all first-section issues rose 1.07% to 1276.08.

The Bank of Japan has released its quarterly Tankan business survey for April-June quarter on Tuesday, showing that sentiment among major manufacturers fell to +12 in June quarter from +17 in March quarter, hit by temporary pullback in consumption caused by the April sales tax hike. But sentiment for the sector is expected to improve slightly to +15 in September as recent data have shown that demand for some goods and services is recovering. Business investment plans for this fiscal year through March 31, 2015 among large firms are forecast to rise 7.4%, revised up sharply from +0.1% projected in March.

 

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