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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    September 4, 2007

    Electric generators lower after leak

    Filed under: Companies, Mitsui Fudosan, Mitsui OSK, Kawasaki Kisen, Mitsubishi Estate, Tokyo Electric Power, Kansai Electric, Sekisui House

    Tokyo’s markets saw declines on Tuesday.

    The Nikkei 225 fell 0.63 percent to 16,420.47 and the Topix index dropped 0.7 percent to 1,596.74, while the Mothers market was 0.1 percent lower to 733.41.

    The utilities sector was lower after Kansai Electric Power (TYO: 9503) had halt power generation at a nuclear facility in western Japan due to a leak of radioactivity inside the plant.

    Kansai dropped 2 percent to ¥2,690, while Tokyo Electric Power (TYO: 9501) dropped 1.6 percent to ¥3,030 on the news.

    Clothing retailer Fast Retailing (TYO: 9983) was 3.6 percent lower to ¥6,490 on its declaration that it will continue to pursue acquisitions after recently failing to buy Barney’s New York.

    The real estate sector was down 1.8 percent as a whole on the news that capital spending was down by 47 percent in the sector from the same quarter last year.

    Mitsubishi Estate (TYO: 8802) dropped 1 percent to ¥3,010, while Mitsui Fudosan (TYO: 8801; NAS: MDSFF) was down 2.7 percent to ¥2,900.

    House builder Sekisui House (TYO: 1928; OTC: SKHSY) fell 3.7 percent to ¥1,425.

    In the transport sector, Kawasaki Kisen (TYO: 9107) dropped 0.78 percent to ¥1,535 and Mitsui OSK Lines (TYO: 9104) was down 1.1 percent to ¥1,725 after the price of dry freight rose again.





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