Japanese equities markets continue to climb

| September 13, 2005 | 0 Comments
Japanese equities markets continue to climb

The Japanese equities markets continued to climb on Tuesday on optimism after last Sunday’s parliamentary elections.

The Nikkei 225 gained 0.4 percent to 12,901.95, while the Topix index was up 0.5 percent to 1,315.76, a four-year high at the close.

As on Monday, domestic stocks did well, but export-oriented shares were not far behind.

Japan’s largest securities house, Nomura, gained 2.1 percent to ¥1,535 as the securities sector as a whole was up 2.8 percent on the day as more purchase of Japanese stocks was expected. Nipponkoa, the country’s largest general insurer, was up 1.6 percent to ¥786 as the insurance sector rose 2.3 percent for the day.

Real estate company Mitsui Fudosan was up 1.7 percent to ¥1,625 amid a general rise of 1.1 for the sector. Among retailers department store operator Daimaru, based in Osaka, gained 3.1 percent to ¥1,154 after UBS raised its share price target. Department store operator

Mitsukoshi, however, lost 3.7 percent on the day to ¥515 as UBS cut its rating from “buy2” to “neutral2”. Among export-oriented firms, carmaker Toyota gained 1.3 percent to ¥4,720, while Sony was up 2 percent to ¥4,050 ahead of the launch of a new business strategy later in September.

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