Japan's Nikkei ends slightly higher; dim corporate outlook dulls Sony's shine
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Japan's Nikkei share average ended slightly higher on Monday, as gains were capped by domestic firms' dim forecasts, with Sony soaring on 73% rise in its quarterly profit. The Nikkei ended 0.08% higher at 39,533.32, while the broader Topix inched down 0.09% at 2,739.68. "A significant number of companies revised down their outlook. That negative surprise has made investors cautious about buying local stocks," said Shigetoshi Kamada, general manager at the research department at Tachibana Securities. "The market is awaiting the outcome of SoftBank (Group) and banks to confirm the outlook trend." Results of Honda Motor, which reported a surprise 15% drop in second-quarter operating profit last week, was particularly a big surprise, said Kamada. The stock slipped 0.14% on Monday. Nissan fell for a second session, falling 4.31% after announcing last week it would cut 9,000 jobs and 20% of its manufacturing capac...