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Domestic stocks higher in Tokyo

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by Elaine Frei

Tokyo equities markets made small gains on Monday, with the Nikkei 225 adding 0.6 percent to 14,833.01 and the Topix index advancing by 0.8 percent to 1,510.89. Meanwhile, the Mothers market, listing small and mid-cap stocks gained 4 percent to 1,376.86.

Domestic stocks did well after the most recent gross domestic product data was revised upward. Retail added 2 percent, while the real estate sector gained 2.1 percent and paper and pulp was up 3.2 percent.

Among retailers, Seven and I was up 1.4 percent to ¥3,700, while Aeon gained 3.2 percent to ¥2.445. In the real estate sector, Mitsui Fudosan advanced by 2 percent to ¥2,305 while its largest rival, Mitsubishi Estate, added 2.1 percent to ¥3.700.

The news that wholesale tissue paper prices will go up for the first time in three years worked to the advantage of the paper sector. Nippon Paper was up by 3 percent to ¥452,000. Oji Paper gained 5.3 percent to ¥611 when Mitsubishi UFJ Securities revised its recommendation upward.

Exporters also saw gains on the day. In the automobile manufacturing sector, Honda was up 0.7 percent to ¥7,030, while Toyota gained 0.9 percent to ¥5,770.

International sales have also helped the seafood sector. Nippon Suisan, for example, added 2.4 percent to ¥593.

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News posted: June 12, 2006

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