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 25, 2007

    GM strike helps Tokyo carmakers

    Filed under: Companies, Mitsui Fudosan, Toyota, Mitsui OSK, Kawasaki Kisen, Mitsubishi Estate, Honda

    Tokyo markets came back from Monday’s holiday there with gains.

    The Nikkei 225 was up 0.55 percent to 16,401.73, while the Topix index added 0.95 percent to 1,566.83 and the Mothers market added 0.88 percent to 631.45.

    With the United Auto Workers declaring a strike against General Motors (NYSE: GM) in the United States, Japanese carmakers saw gains.

    Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was 1.2 percent higher to ¥6,640 and Honda Motor (TYO: 7267; NYSE: HMC) was up 1.6 percent to ¥3,810.

    Shippers were also higher after the Baltic Dry Index, which tracks bulk shipping fees, hit a new record.

    Mitsui OSK (TYO: 9104) added 4.6 percent to ¥1,842, while Kawasaki Kisen Kaisha (TYO: 9107) gained 5 percent to ¥1,716.

    It was Mitsui’s highest close since the beginning of August and a record high close for Kawasaki Kisen.

    The real estate sector saw gains as well.

    Mitsui Fudosan (TYO: 8801; NAS: MDSFF) was 4.1 percent higher to ¥2,955, while Mitsubishi Estate (TYO: 8802) was up 4.2 percent to ¥3,090.





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