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Stock impact report

Nikkei edges up in choppy trade; MUFG falls on writedown worries [Reuters]

Mitsubishi UFJ Financial Group, Inc. (MUFG) 
Company Research Source: Reuters
Nikkei edges up in choppy trade; MUFG falls on writedown worries - Reuters 3 Min Read * MUFG falls on report it will book writedown * Earnings release to start on April 26 By Ayai Tomisawa TOKYO, April 22 (Reuters) - Japan’s Nikkei edged up on Monday morning in choppy trade as investors stayed on the sidelines before the Golden Week holiday starts later in the week, while Mitsubishi UFJ Financial Group underperformed on a report that it will book a writedown. The Nikkei share average was 0.1 percent up at 22,221.00 in midmorning trade, flitting between positive and negative territory. Traders said that investors are likely to stay defensive this week as they are cautious before the 10-day holiday in Japan starting this weekend. The Japanese market has gained 5 percent this month thanks to robust Chinese economic data, which bodes well for sentiment in Japan Inc’s earnings. But as the Nikkei has hit a 4-1/2-month high this month, investors need more positive catalysts to chase the mark Show less Read more
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