Nikon Gains in Tokyo as CLSA Says Flood Setback Temporary
This article is for subscribers only.
Nikon Corp. rose to a one-week high in Tokyo trading after CLSA Asia-Pacific Markets raised its rating, saying the Thailand floods will have only a short-term effect and the company will benefit from growing camera demand.
The world’s second-biggest maker of professional-grade cameras jumped as much as 3.2 percent to 1,801 yen, the highest intraday level since Oct. 31. The shares traded at 1,776 yen as of the 11 a.m. trading break in Tokyo. The benchmark Nikkei 225 Stock Average slid 0.6 percent.