Nikkei rises 0.8 pct, boosted by Toyota's guidance hike

Reuters

TOKYO, Nov 6 (Reuters) - Japan's Nikkei average rose, driven

by gains in Toyota Motor Corp after the automaker

lifted its earnings guidance, while companies that have been

battered after disappointing earnings also bounced.

The Nikkei was up 0.8 percent at 14,337.31 after

trading as low as 14,130.86 earlier in the session. But the

benchmark is still down 3.1 percent from a three-week high

touched on Oct. 23.

Toyota bounced from morning losses, advancing 0.5 percent

after public broadcaster NHK said the carmaker would raise its

operating profit forecast to 2.2 trillion yen ($22.3 billion)

from its previous estimate of 1.94 trillion yen.

The automaker confirmed the revised forecast after the

market close.

Peer Nissan Motor Co Ltd rose 2.8 percent,

recouping some of the previous session's 10.4 percent slump

after it cut its annual earnings guidance, facing a slowdown in

emerging markets and quality issues.

Industrial robot maker Fanuc Corp gained 1.5

percent, on track to snap a five-day losing streak after its

quarterly orders disappointed investors.

But mobile operator SoftBank Corp, an index

heavyweight, was down 2.1 percent, giving up some of the 5.6

percent rally in the previous two sessions on the back of its

strong first-half earnings.

Fast Retailing Co Ltd, the second top-weighted

loser after SoftBank, eased 0.8 percent after it said same-store

sales at its Uniqlo causal clothing chain in Japan fell 13.8

percent last month because of warmer-than-usual temperatures and

typhoons that discouraged shoppers.

The broader Topix index added 0.8 percent to

1,192.16, with 2.58 billion shares changing hands, the lowest in

a week.

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