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 11, 2007

    Real estate sector gains after recent declines

    Filed under: Companies, Mizuho, Mitsui Fudosan, Toyota, Mitsubishi Estate, Mitsubishi UFJ, Honda, Sumitomo Realty & Development, Capcom

    Tokyo’s markets were mixed Tuesday.

    While the Nikkei 225 added 0.71 percent to 15,877.67 and the Topix index gained 0.47 percent to 1,532.39, the Mothers market of small and mid-caps fell 2.87 percent to 656.29.

    After several days of declines, the real estate sector was higher, gaining 3.5 percent as a whole on new figures showing that office rental rates were up in central Tokyo in August.

    Mitsui Fudosan (TYO: 8801; NAS: MDSFF) was 3.53 percent higher to ¥2,640, while Sumitomo Realty & Development (TYO: 8830) gained 4.1 percent to ¥3,290 and Mitsubishi Estate (TYO: 8802) added 4.3 percent to ¥2,810.

    Banks were higher as well.

    Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was 1 percent higher to ¥1.04 million, while Mizuho Financial (TYO: 8411; NYSE: MFG) was up 1.1 percent to ¥664,000.

    Computer game publisher Capcom (TYO: 9697) added 6.3 percent to ¥2,855 on a broker upgrade based on its sales of games for the Wii console.

    The automobile manufacturing sector was slightly lower, falling 0.2 percent as a whole even though the yen had weakened slightly against the US dollar.

    Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) dropped 0.2 percent to ¥6,430, while Honda Motor (TYO: 7267; NYSE: HMC) was 0.8 percent lower to ¥3,700.





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