Tokyo Market News: investment market news from the Nikkei and Topix indices
Tokyo Market News: investment market news from the Nikkei and Topix indices

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    July 26, 2007

    Real estate sector declines in Tokyo

    Filed under: Companies, Mitsui Fudosan, Advantest, Nomura, Seven & I, Nintendo

    Equities markets in Tokyo were lower on Thursday.

    The Nikkei 225 was 0.9 percent lower to 17,702.09 and the Topix index dropped 1 percent to 1,737.18, while the Mothers market was down 0.66 percent to 852.13.

    Tokyo’s declines came as investors worried about the outcome of parliamentary elections scheduled for Sunday, where polls suggest that the ruling Liberal Democratic party could have a difficult time holding the Upper House.

    Domestic sectors were particularly affected.

    In the real estate sector, Mitsui Fudosan (TYO: 8801; NAS: MDSFF) dropped 1.9 percent to ¥3,160, while among retailers Seven & I (TYO: 3382) was 1.7 percent lower to ¥3,430.

    In the semiconductors sector, Advantest (TYO: 6857; NYSE: ATE) dropped 5.2 percent to ¥4,920 after it said that net profits were down 13 percent in the most recent quarter.

    Earnings reports helped games maker Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO), which upped its earnings guidance for the full year by 41 percent as it reported sharp profits in the quarter to June from its Wii games console.

    Nintendo added 8.8 percent to ¥61,800.

    A profits report also aided Nomura Holdings (TYO: 8604; NYSE: NMR; SGX; N33), which gained 6.6 percent to ¥2,260.





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