Fuji Electric led decliners in the Nikkei 225 index shares with a fall of 10.03% followed by losses in Kuraray Co Ltd of 8.41%, in NGK Insulators of 7.81%, in GS Yuasa Corp of 5.09%, and Denso Corp of 4.14%.

Matsushita Profit Rises 86%

Matsushita net income in the first quarter ended June 30 rose 86% to 73 billion yen in the same quarter a year earlier. Operating profit advanced 48% to 109.6 billion yen from 73.9 billion a year ago on sales gains in real terms and cost reduction.

Nidec Q1 Profit Rises 36%

Nidec Corp, the maker of computer disk drive motors rose 10% 7,748 yen after it reported first quarter income gain of 36% on higher sales of precision drives for computer hard disks and gains in foreign exchange. Net sales in the period rose 3.6% from a year ago to 178.4 billion yen and net income rose 36% to 15 billion yen. Earnings per diluted share rose to 101.27 yen from 74.63 yen a year ago period. Financial forecast for the full year sales remain unchanged at 800 billion yen and net income per share of 400.17 yen.

Asian Markets Review

The Nikkei 225 Index in Tokyo closed higher 208.34 or 1.58% to 13,367.79, Hang Seng index in Hong Kong increased 432.60 or 1.94% closed to 22,690.60. ASX 200 index in Australia increased 89.30 or 1.84% to close 4,936.70. The KL Composite index in Malaysia increased 9.14 or 0.79% closed to 1,159.94.

The Kospi Index in South Korea increased 10.50 or 0.67% to close at 1,577.70. SET index in Thailand closed lower 6.83 or 1.01% to 669.90. The Sensex index in India increased 495.67 or 3.59% to 14,287.21. Market of Indonesia was closed today.