Nikkei ends 2-day losing run, Nissan sags 10 pct after guidance cut


TOKYO, Nov 5 (Reuters) - Japan's Nikkei average edged higher

on Tuesday, ending a two-day losing run as gains made by

companies such as farm equipment maker Kubota Corp after lifting

earnings forecasts countered Nissan Motor Co Ltd's plunge on

weaker guidance.

Gains in index heavyweight SoftBank Corp, a

follow-through from last week's strong results, also supported

the Nikkei which was up 0.2 percent at 14,225.37 after

losing 2.1 percent in the previous two sessions.

Nissan, the second-most traded counter on the main

board by turnover, sank 10.4 percent, hitting a seven-month low

and wiping about $4.5 billion off its market capitalisation.

The carmaker cut its annual net profit estimate for the year

ending March 2014 by 15 percent to 355 billion yen ($3.6

billion) after market close on Friday, facing a slowdown in

emerging markets and quality issues. Japanese

markets were closed for a public holiday on Monday.

Kubota climbed 7.9 percent, however, after it

lifted its six-month earnings forecast by 28 percent to 100

billion yen, while ball bearing market Minebea Co Ltd,

which also raised its earnings guidance, jumped nearly 17


The broader Topix index was little changed at

1,182.58, with 2.63 billion shares changing hands, down from

last week's daily average of 2.85 billion.

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