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Tuesday 02nd of December 2008
December 6, 2006

Electric power companies gain in Tokyo


by Elaine Frei

The Nikkei 225 closed at 16,371.28 on Wednesday, a gain of 0.7 percent on the session and its highest close in a month. The Topix index was also higher, ending 1 percent higher to 1,615.17. Meanwhile, the Mothers index of small and mid-cap stocks was 1 percent higher to 1,116.51. The gains were largely on advances in domestic sectors.

The securities sector was 1.7 percent higher as a whole, helped by gains in stocks that have brokers convinced that individual investors will come back to the market. Nomura Holdings and Nikko Cordial each matched the sector by adding 1.7 percent on the session, to ¥2,080 and ¥1,477 respectively. Daiwa Securities gained 2.3 percent to ¥1,335.

Real estate also did well, with the sector adding 1.5 percent. Sumitomo Realty & Development was 1.6 percent higher to ¥3,790. Mitsui Fudosan added 1.8 percent to ¥2,835, bringing its gains since the middle of June to over 30 percent.

Electricity generators were up substantially. Tohoku Electric Power gained 2.3 percent to ¥2,845, while Kyushu Electric Power was 3 percent higher to ¥3,050 and Kansai Electric Power added 3.3 percent to ¥3,120.

The consumer finance sector was still on the rise. Jaccs gained 2.2 percent to ¥827, Takefuji added 2.6 percent to ¥4,770, Credit Saison was up 3.4 percent to ¥4,260, and Promise was 3.9 percent higher to ¥4,000.

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