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 12, 2007

    Tech stocks decline in Tokyo

    Filed under: Companies, Sony, Tokyo Electron, Fast Retailing, Nikon, Dainippon Screen Manufacturing

    Tokyo’s markets joined the rest of Asia’s equities markets in declines on Friday.

    The Nikkei 225 was 0.73 percent lower to 17.331.17, while the Topix index dropped 1.08 percent to 1,659.48 and the Mothers market of small and mid-caps fell 0.04 percent to 881.49.

    Technology-related shares were lower.

    Sony (TYO: 6758; NYSE: SNE) dropped 4.3 percent to ¥5,530 after a report showing that profits were down in its joint venture with Ericsson (NAS: ERIC) to make mobile phones.

    Businesses related to the manufacture of semiconductors were lower on downgrades from Goldman Sachs.

    Tokyo Electron (TYO: 8035) dropped 1.2 percent to ¥7,300 after its rating was dropped from “buy” to “neutral”.

    Nikon (TYO: 7731), which makes machines that put circuitry on silicon wafers, was down 8 percent to ¥3,910 on a downgrade from “neutral” to “sell”, while chip making equipment maker Dainippon Screen (TYO: 7735) fell 8.6 percent to ¥692 after being downgraded from “buy” to “sell”.

    In the retail sector, Fast Retailing (TYO: 9983) was 6 percent lower to ¥7,060 after full-year results showed that net income was down by 21 percent in the year ending 31 August, less than had been predicted earlier.





    July 13, 2007

    Semiconductors sector recovers

    Filed under: Companies, Sony, Matsushita Electric Industrial, Advantest, Tokyo Electron, Fast Retailing, Nintendo, Shin-Etsu Chemical, Dainippon Screen Manufacturing

    The Tokyo markets also saw significant gains on Friday as the Nikkei 226 added 1.42 percent to 18,238.95 and the Topix index gained 1.14 percent to 1,783.2.

    The markets were aided by a recovery in the semiconductors sector that was spurred by comments from Korean chipmaker Samsung (KS: 005930) that chip prices will go up in the third quarter of the year.

    It was also helped by a report from silicon wafer maker Shin-Etsu (TYO: 4063) that profits in its fiscal first quarter were up by 28 percent on strong sales.

    Shin-Etsu added 3.9 percent to ¥9,500.

    Tokyo Electron (TYO: 8035) was 3.2 percent higher to ¥9,090, while chip-testing equipment maker Advantest (TYO: 6857; NYSE: ATE) added 2.1 percent to ¥5,410 and Dainippon Screen Manufacturing, which makes equipment related to semiconductor manufacture, gained 2.3 percent to ¥943.

    In the electronics sector, Sony (TYO: 6758; NYSE: SNE) was 0.9 percent higher to ¥6,410, while Matsushita Electric Industrial (TYO: 6572; NYSE: MC) added 1.3 percent to ¥2,360 and Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) gained 1.5 percent to ¥50,400 on comments from the company’s president that its Wii games console could sell more than Sony’s PlayStation 2.

    Decliners on the day included Fast Retailing (TYO: 9983). The clothing retailer was 2.7 percent lower to ¥8,000 on a third decline in its full-year guidance.

    Japanese markets will be closed Monday for the Maritime Day Holiday.





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