Tokyo markets down on tech stocks
by Elaine Frei
Technology stocks helped send the Tokyo equities markets lower on Tuesday. The Nikkei 225 and the Topix index each lost 0.5 percent on the session, to 15,473.82 and 1,585.85 respectively.
The electronics sector was down on a strong yen and on declines in tech stocks in New York overnight. Sony dropped 0.2 percent to ¥5,040. Advantest declined by 0.9 percent to ¥12,020, while Matsushita was down to ¥2,350, 1.7 percent lower on the session.
Games developer Namco Bandai dropped 1.3 percent to ¥1,695 on the news that Zapf Creation has recommended that its shareholders reject Namco’s bid for the German dollmaker. Zapf is said to be looking for higher bids.
After Nikko Citigroup has withdrawn from its position as one of 15 underwriters for Japan Airlines’ new share issue, worth $1.9 billion, JAL’s shares declined by 2.6 percent to ¥271. The new issue will dilute existing shares by 30 to 40 percent and could be sold below current market prices in order to create adequate demand, making the issue controversial.
Discuss this in the Finance Markets forums
Story link: Tokyo markets down on tech stocks
Add to Bookmarks:
Related financial stories to: Tokyo markets down on tech stocks
- New York markets lower on tech stocks
- Tech stocks see gains in Europe
- US tech stocks higher on session
- US tech stocks see gains
- Tokyo markets gain on tech strength
- Tokyo markets lower on domestic stocks
- Tech stocks fail to rebound as NYSE recovers
- Domestic stocks lower in Tokyo
- Tokyo domestic stocks see gains
- Stocks higher in Tokyo
Previous: « Eurofirst falls on profit reports concerns
Next: US trade deficit up »
Visited 351 times, 1 so far today
