MARKET TALK: Tokyo Metal Stocks Surge On Earnings Prospects

Global cyclical sectors, such as shipbuilding, shipping, metal stocks among main gainers today on Nikkei, Topix. These three industry groups all reported strong earnings figures, also predicting another FY of solid profits. Pacific Metals (5541.TO) up 16% at Y2,625 after reporting EPS Y133.45 for past FY against Y81.30 in previous period. Ferro-nickel materials producer also eying group net profit of Y40.78 billion this FY against Y26.09 billion last FY. Sumitomo Mining (5713.TO), Pacific Metals (5541.TO), Sumitomo Metals (5405.TO) in top ten traded stocks today by value beating out big blue-chip names like KDDI, MUFG. Number of investors bullish on prospects for shipping, metals given still robust looking growth in BRIC nations, talk of decoupling from slowing U.S. economy. Mitsui O.S.K. (9104.TO) up 0.7% at Y1,603. Shipping firms also helped by weakening JPY, say traders.