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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    October 22, 2007

    Mothers market adds 1 percent amid declines

    Filed under: Companies, Toyota, Mitsubishi UFJ, Honda, Komatsu, Aiful, Acom, Nintendo, Sumitomo Mitsui

    In Tokyo on Monday the Nikkei 225 fell 2.24 percent to 16,438.47 and the Topix index dropped 1.77 percent to 1,563.07, but the Mothers market of small and mid-caps managed a 1.04 percent gain to 911.42.

    Exporters dropped as the yen strengthened in relation to the US dollar.

    Construction machinery manufacturer Komatsu (TYO: 6301) was 2.9 percent lower to ¥3,720 after its US rival Caterpillar (NYSE: CAT) cut its profits outlook on a downturn in sales in the United States.

    Game console maker Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) was also 2.9 percent lower to ¥64,800, while automobile manufacturers Toyota (TYO: 7203.T; NYSE: TM; LSE: TYT) and Honda (TYO: 7267; NYSE: HMC) each fell 2.1 percent, to ¥6,120 and ¥3,750 respectively.

    It was Honda’s lowest close in a month and a 14-month low for Toyota.

    Banks were still in the doldrums, with Mitsubishi UFJ trading even at ¥1,027 after early-session declines and Sumitomo Mitsui down 0.6 percent to ¥832,000 even though the consumer finance sector, in which they hold stakes, was much higher on the session.

    Acom (TYO: 8572) gained 14 percent to ¥3,000 while Aiful (TYO: 8515) added 18 percent to ¥2,670.





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