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Tokyo department stores lower on sales concerns
Permalink: Tokyo department stores lower on sales concerns
Filed under: Equities, Economy, Asia, Japan
With investors seeming to want to hold off on committing their money anywhere before the Bank of Japan makes its decision on interest rates Thursday, the Tokyo equities markets moved very little on Tuesday. The Nikkei 225 was unchanged at 17,202.46, while the Topix index was lower, but only by 0.1 percent to 1,703.54.
In the retail sector, department stores were lower on worries that early January sales will turn out to have been less than hoped. Mitsukoshi dropped 0.7 percent to ¥562, while Isetan fell 1.1 percent to ¥2,185. Takashimaya was 2.6 percent lower to ¥1,591 and Daimaru was down 2.7 percent to ¥1,507.
After an industry organization predicted double-digit growth for the 2007-2008 fiscal year, stocks related to the manufacture of computer chips saw gains. Tokyo Electron was 1.2 percent higher to ¥9,300, while Advantest gained 1.8 percent to ¥6,660.
The securities sector was still being helped by consolidation rumors. The sector as a whole added 0.5 percent, with Matsui Securities up 0.9 percent to ¥983 and Nikko Cordial added 2.1 percent to ¥1,337. Nikko Cordial, however, is still significantly lower than it was directly before an accounting scandal was revealed in December.
Elsewhere in Asian markets, the Vietnam Index was 3.85 percent higher to 983.6, a new record high, in the wake of a series of initial public offerings there. The benchmark index in Jakarta, meanwhile, was 1.4 percent higher on Tuesday after a gain of 3.1 percent on Monday. It was the biggest two-day gain in seven months, but its Tuesday close at 1,754.29 was below its close at the end of 2006 as enthusiasm was held back by the news that two people had died of bird flu.
Tokyo electronics sector gains on weak yen
Permalink: Tokyo electronics sector gains on weak yen
Filed under: Equities, Economy, Asia, Japan
The Japanese equities markets were significantly higher on Friday. The Nikkei 225 added 1.3 percent to 17,057.01, while the Topix index gained 1.7 percent to 1,685.27. Export-focused sectors were largely responsible for the gains, helped out by a weaker yen.
The electronics sector was up 2 percent as a whole. Hitachi added 1.3 percent to ¥790, while Sony gained 2.4 percent to ¥5,560 and Matsushita Electric Industrial was 3.3 percent higher to ¥2,385. Matsushita, which makes the Panasonic brand of consumer electronics, had seen losses earlier in the week in connection to its announced plans to build a new factory to manufacture plasma displays.
The automobile manufacturing sector was also 2 per cent higher, with Toyota up 2.1 percent to ¥7,820.
The banking sector was 2.5 percent higher ahead of a Bank of Japan meeting to decide on interest rates, scheduled for next week. Mitsubishi UFJ gained 2.7 percent to ¥1,510,000.
Telecommunications companies had mixed results on the session. NTT DoCoMo added 0.5 percent to ¥193,000, while KDDI was 3.1 percent higher to ¥808,000 on new data that showed its share of the mobile phone market higher since October. Softbank, however, dropped 1 percent to ¥2,460.
In the retail sector, Fast Retailing dropped 13.6 percent to ¥9,600 when it reduced its full-year profit expectations.
Tokyo markets gain on steel, electronics
Permalink: Tokyo markets gain on steel, electronics
Filed under: Equities, Economy, Asia, Japan
The Tokyo equities markets were higher on Tuesday, with the Nikkei 225 adding 0.9 percent to 17,237.77 and the Topix index gaining 1 percent to 1,692.12. On the other hand, the Mothers market of small and mid-caps saw a loss, dropping 1.3 percent to 1,073.36.
The steel sector added 3 percent as a whole on bids speculation. Nippon Steel added 3.3 percent to ¥649, while JFE Holdings was 4.9 percent higher to ¥5,980.
The electronics sector was up on positive broker comment. Pioneer was up 4 percent to ¥1,716 after Goldman Sachs issued an upgrade from “sell” to “neutral” for the audio equipment manufacturer. Goldman Sachs also upgraded Sony, from “neutral” to “buy”, based on strong Christmas sales for the consumer electronics firm. Sony added 6.5 percent to ¥5,550.
Banks saw gains on the possibility that the Bank of Japan will raise interest rates when it meets next week, on the theory that lending margins might improve if rates go up. Mitsubishi UFJ gained 1.3 percent to ¥1,510,000, while Mizuho Financial added 2.3 percent to ¥880,000.
The consumer finance sector was up on the session. Aiful was up 2.7 percent to ¥3,820, while Takefuji gained 3.5 percent to ¥5,270 and Credit Saison was 5.1 percent higher to ¥4,510.
Securities house Nikko Cordial was still seeing fallout from its recent accounting troubles, dropping 2 percent to ¥1,275.
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