HONG KONG (MarketWatch) — Japanese shares were volatile on the first trading day of a new financial year Wednesday, following weaker-than-expected results from the central bank’s tankan survey of business sentiment. Exporters and financials were broadly higher after overnight gains on Wall Street, while airlines were lower. The Nikkei 225 Average was up 0.3% in early morning trade at 8,131.82, after briefly flirting with losses, while the broader Topix added 1.3% to 783.39. The tankan survey showed business sentiment among Japan’s big manufacturing firms plunged to negative 58 in the first quarter, from negative 24 in the previous quarter. However, Sony shares climbed 3.4%, and Mizuho Financial Group stock advanced 2.1%. Toyota Motor Corp. added 1.6% ahead of industry data on Japanese auto sales due out later Wednesday. Nippon Steel Corp. gained 1.1%, and Komatsu rose 3.1%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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