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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    August 13, 2007

    Commodities-related shares see gains

    Filed under: Companies, Mitsui OSK, Kawasaki Kisen, Sumitomo Metal Industries, Credit Saison, Aeon, Mitsubishi Materials, Cosmo Oil, Sumitomo Mitsui, Mitsumi Sumitomo Insurance, Yamada Denki

    Tokyo’s markets were mixed Monday.

    While the Nikkei 225 gained 0.21 percent to 16,800.05, the Topix index dropped 0.08 percent to 1,632.64.

    The Mothers market of small and mid-caps was up 0.65 percent to 767.49.

    Shares related to commodities were higher during the day.

    Sumitomo Metal Mining (TYO: 5405) gained 4.4 percent to ¥2,380, while metals smelter Mitsubishi Materials (TYO: 5711) was 9.8 percent higher to ¥639.

    After losing 17 percent last week, Cosmo Oil (TYO: 5007) was up 4.2 percent to ¥547.

    Shippers were up as well.

    Mitsui OSK Lines (TYO: 9104) gained 1.5 percent to ¥1,623, while Kawasaki Kisen (TYO: 9107) added 3.9 percent to ¥1,485.

    On the other hand, financial services and the retail sector were both lower.

    Sumitomo Mitusi Financial Group (TYO: 8316) dropped 1.2 percent to ¥988,000, while insurer Mitsui Sumitomo (TYO: 8752) was 4.6 percent lower to ¥1,364.

    Credit card issuer Credit Saison (TYO: 8253) was 5.3 percent lower to ¥2,840 after it said that it has seen costs related to bad loans go up by 41 percent.

    In the retail sector, Aeon (TYO: 8267) was down 5.3 percent to ¥1,857, while electronics retailer Yamada Denki (TYO: 9831) fell 6.8 percent to ¥11,640.





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