|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Friday 17th of August 2007

FM Main:

FM News:

FM Features:

FairInvestment:

August 24, 2006

US data sends Tokyo markets lower

Permalink: US data sends Tokyo markets lower
by Elaine Frei

Concerns about the state of the US economy sent equities markets in Tokyo lower in Thursday after new data released Wednesday showed that sales of existing houses was down. The Nikkei 225 dropped 1.3 percent to 15,960.62, while the Topix index fell by 1.1 percent to 1,623.03. Both export-focused and domestic stocks were hurt by the new worries.

The banking, securities, and real estate sectors were all lower on the domestic side. The real estate sector declined by 1.8 percent as a whole, with Mitsui Fudosan down 1.2 percent to ¥2,545. Mitsubishi Estate dropped 2 percent to ¥22,495, Sumotomo Realty & Development fell 2.4 percent to ¥3,320, and Tokyo Tatemono was 4 percent lower to ¥1,293 on a downgrade from “buy” to “hold” from Deutsche Bank.

Banks were down 1.3 percent as a whole, with Mizuho down 0.8 percent to ¥962,000 and Mitsubishi UFJ 1.8 percent lower to ¥1,620,000. The securities sector, meanwhile, dropped 1.1 percent. Nomura and Daiwa each declined by 0.9 percent, to ¥2,255 and ¥1,417 respectively. Nikko Cordial fell 1.7 percent to 1,514.

Export-focused stocks were also lower. Among the automobile manufacturing sector, Nissan and Honda each fell by 1.3 percent, to ¥1,290 and ¥3,890 respectively. Toyota dropped 2.2 percent to ¥6,310.

In the electronics sector, Toshiba was 1 percent lower to ¥782. Sony fell 2.9 percent to ¥5,100 on a downgrade from Mitsubishi UFJ.



Email This Post Email This Post Print This Post Print This Post

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL

Related financial stories:

 CPI data sends Tokyo markets lower: ...

 Profit-taking sends Tokyo markets lower: ...

 China announcement sends Tokyo equities lower: ...

 Data sends Wall Street lower on week: ...

 Lower US unemployment sends bond prices lower: ...

No Comments

No comments yet.

Sorry, the comment form is closed at this time.


Previous: « Gasoline, distillates, natural gas prices all up
Next: Italian banks send European markets higher »

Visited 47 times, 1 so far today