Japan��s Topix index swung between gains and losses as investors weighed earnings. NSK Ltd. surged while DeNA Co. tumbled.
NSK headed for its biggest advance in a year after the bearings maker forecast full-year profit above analysts�� predictions. Hakuhodo DY Holdings Inc. jumped 8.3 percent after the advertising company��s outlook also topped estimates. DeNA plunged 19 percent after the social-network firm��s operating-profit forecast missed expectations.
The Topix slipped 0.2 percent to 1,163.25 at the trading break in Tokyo after rising as much as 0.3 percent. The Nikkei 225 Stock Average lost 0.1 percent to 14,178.67. The yen slipped 0.1 percent to 101.96 per dollar, extending a 0.2 percent decline on May 9. Japan��s current-account surplus narrowed more than forecast in March.
Earnings seasons continued in Japan, with more than 650 companies on the Topix scheduled to post results this week. Of members that reported from April 1 through May 9 and for which Bloomberg had estimates, 55 percent beat analyst expectations for profit, data compiled by Bloomberg show.
Source : Bloomberg