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    2502   JP3116000005

ASAHI GROUP HOLDINGS, LTD.

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Japanese shares rise for fourth day on earnings, rising U.S. yields

08/10/2021 | 10:30pm EDT

TOKYO, Aug 11 (Reuters) - Japanese shares rose for a fourth straight session on Wednesday thanks to brisk earnings from Bridgestone and other firms, while bank stocks received support from rising U.S. bond yields.

The Nikkei share average rose 0.52% to 28,034.30, its highest level since July 16, though it could face resistance at around 28,300 from its downward-sloping trendline since mid-June.

The broader Topix gained 0.87% to 1,953.12, also hitting a high last seen in mid-July, with upbeat earnings aiding market sentiment.

Bridgestone jumped 6.3% after the tyre maker reported strong quarterly earnings and an upbeat annual profit outlook.

Asahi Group Holdings gained 2.5% after the beverage firm saw a stronger-than-expected recovery in April-June earnings.

Ulvac soared 7.3% to a three-year high after the vacuum devices maker posted strong growth and announced a dividend hike.

Staffing service company Persol Holdings jumped 6.8% on surprisingly strong quarterly profit and a dividend hike plan.

Banks gained 2.7% as U.S. bond yields rose to one-month highs after the U.S. Senate passed a massive infrastructure bill. Japanese bank shares are highly correlated to U.S. yields because of their large investment in U.S. debt.

Higher U.S. yields also benefit Japanese shares because they tend to cheapen the yen and boost exporters' profit, though in recent years analysts have noted those relations appear to have weakened considerably.

Softbank Group dipped 0.9%, failing to sustain early gains following its earnings announcement and after Chief Executive Masayoshi Son said it would pause Chinese investments as it waits for regulatory action against the country's tech firms to play out.

"Its earnings weren't bad but there's still uncertainty on China's regulation drives. In short, its earnings didn't produce any strong reason to sell, but there isn't a strong case to buy it either," said Masayuki Doshida, senior strategist at Rakuten Securities. (Reporting by Hideyuki Sano; Editing by Ramakrishnan M.)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASAHI GROUP HOLDINGS, LTD. -1.46% 5314 End-of-day quote.25.21%
BRIDGESTONE CORPORATION 1.30% 5315 End-of-day quote.57.06%
NEW ZEALAND DOLLAR / JAPANESE YEN (NZD/JPY) 0.90% 80.799 Delayed Quote.8.04%
NIKKEI 225 1.81% 29068.63 Real-time Quote.5.92%
PERSOL HOLDINGS CO., LTD. 2.35% 2923 End-of-day quote.57.07%
SOFTBANK GROUP CORP. 0.61% 6290 End-of-day quote.-21.94%
ULVAC, INC. 3.25% 6360 End-of-day quote.44.05%
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Analyst Recommendations on ASAHI GROUP HOLDINGS, LTD.
More recommendations
Financials
Sales 2021 2 258 B 19 764 M 19 764 M
Net income 2021 160 B 1 404 M 1 404 M
Net Debt 2021 1 597 B 13 976 M 13 976 M
P/E ratio 2021 16,8x
Yield 2021 2,08%
Capitalization 2 693 B 23 586 M 23 568 M
EV / Sales 2021 1,90x
EV / Sales 2022 1,76x
Nbr of Employees 29 850
Free-Float 93,9%
Chart ASAHI GROUP HOLDINGS, LTD.
Duration : Period :
Asahi Group Holdings, Ltd. Technical Analysis Chart | 2502 | JP3116000005 | MarketScreener
Technical analysis trends ASAHI GROUP HOLDINGS, LTD.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 5 314,00 JPY
Average target price 6 083,33 JPY
Spread / Average Target 14,5%
EPS Revisions
Managers and Directors
Atsushi Katsuki President, CEO & Representative Director
Akiyoshi Koji Chairman
Tatsuro Kosaka Independent Outside Director
Yasushi Shingai Independent Outside Director
Christina L Ahmadjian Independent Outside Director
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