Topix index adds 1.5 percent in Tokyo

| November 30, 2006 | 0 Comments

New data on the growth of the US economy helped the Tokyo equities markets to gains on Thursday. Both export-focused and domestic stocks benefited. The Nikkei 225 added 1.2 percent to 16,274.33, while the Topix index gained 1.5 percent to 1,603.03. The Mothers index of small and mid-cap stocks did ever better, ending 2.5 percent higher to 1,152.81.

Domestically, the securities and consumer finance sectors were higher. Consumer finance companies, which have had a bad year as the government made attempts to limit how much interest they can charge customers on loans, saw especially large gains. Credit Saison gained 6.5 percent to ¥4,080, while Takefuji added 9.7 percent to ¥4,630 and Aiful jumped 10.8 percent to ¥3,700.

The securities sector was 3.6 percent higher as a whole. Daiwa Securities was 3 percent higher to ¥1,327, while Nomura Holdings added 3.8 percent to ¥2,030 and Nikko Cordial gained 3.9 percent to ¥1,430.

With crude oil prices still rising, upstream oil company Inpex was 1.6 percent higher to ¥997,000.

Automobile manufacturers also managed advances. Toyota added 1.3 percent to ¥7,020, while Honda Motor gained 2.2 percent to ¥4,100. Meanwhile, construction machinery manufacturer Komatsu was 2.7 percent higher to ¥2,105.

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