0027 GMT - Japanese stocks are higher in early trade, led by gains in chip and chemical stocks, as a weaker yen raises hopes for earnings growth. Nippon Paint Holdings is up 9.8% after fourth-quarter net profit beat analysts' expectations. Renesas Electronics gains 5.6% and Mitsubishi Chemical Group is 4.0% higher. USD/JPY is at 132.84, up from 131.88 as of Tuesday's Tokyo stock market close. Meanwhile, Shimano is down 9.4% after it projects a 33% drop in net profit in 2023. Earnings are in focus, with Sapporo Holdings scheduled to announce its results later in the day. The Nikkei Stock Average is up 0.2% at 27649.53. (kosaku.narioka@wsj.com; @kosakunarioka)
(END) Dow Jones Newswires
February 14, 2023 19:27 ET (00:27 GMT)
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