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 21, 2007

    Steel, shipping sectors higher in Tokyo

    Filed under: Companies, Sony, Nippon Steel, Matsushita Electric Industrial, Nippon Yusen, Kawasaki Kisen, Advantest, JFE

    Tokyo’s markets were higher on the session as the Nikkei 225 added 1.07 percent to 15,901.34 and the Topix index was up 1.73 percent to 1,549.88 after the Bank of Japan put another ¥800 billion into the system.

    The Mothers index gained 1.23 percent to 703.72.

    The steel sector, seen as a safer place for investors to put their money, was up on the day.

    JFE (TYO: 5411) was 3.4 percent higher to ¥7,300, while Nippon Steel (TYO: 5401) gained 4.3 percent to ¥777.

    Shippers were also higher, with Kawasaki Kisen (TYO: 9107) up 2.6 percent to ¥1,394 and Nippon Yusen (TYO: 9101) adding 3 percent to ¥1,065.

    In the electronics sector, Sony (TYO: 6758; NYSE: SNE) added 1.3 percent to ¥5,280, but Matsushita Electric Industrial (TYO: 6572; NYSE: MC) was down 1.7 percent to ¥1,918.

    In the semiconductors sector, chip-testing equipment maker Advantest (TYO: 6857; NYSE: ATE) was down 1.8 percent to ¥4,260 after it said that profits were 13 percent lower in its fiscal first quarter.





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