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 17, 2007

    Topix, Mothers index drop 5.5 percent each

    Filed under: Companies, Canon, Toyota, Honda, Sumitomo Metal Industries, KDDI, Nintendo, Meiji Dairies

    Tokyo equities markets were significantly lower on Friday.

    The Nikkei 225 fell 5.42 percent to 15,273.68 for its biggest one-day percentage drop since the September 11 attacks in New York and Washington, DC, in 2001.

    Meanwhile, the Topix index and the Mothers market each were down 5.55 percent, to 1,480.39 and 688.46 respectively.

    The decline for the Topix was the biggest in over a year.

    The Bank of Japan put another ¥1.2 trillion ($10.7 billion) into the system during the day to try to improve liquidity.

    The yen strengthened again, leaving export-related shares suffering.

    Among carmakers, Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) fell 7.2 percent to ¥6,190 and Honda Motor (TYO: 7262; NYSE: HMC) dropped 8.2 percent to ¥3,470.

    Camera maker Canon (TYO: 7751; NYSE: CAJ) was 8.6 percent lower to ¥5,400, while Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) was down by the exchange-set daily limit of ¥5,000 to ¥46,700, a decline of 9.7 percent.

    With commodities prices much lower on Thursday around the world, Sumitomo Metal Mining (TYO: 5405) fell 16 percent to ¥1,940 for its biggest one-day decline since early October 1999.

    There were gainers on the session.

    Record high temperatures in Japan helped ice cream maker Meiji Dairies (TYO: 2261) to add 2.4 percent to ¥648, while mobile phone operator KDDI (TYO: 9433) was 3.7 percent higher to ¥868,000.





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