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 26, 2007

    Banks higher on mutual funds investments

    Filed under: Companies, Mizuho, Inpex, Mitsubishi UFJ, Toshiba, Japan Petroleum, Sumitomo Mitsui, Bic Camera, Yamada Denki, Hino Motors, Best Denki

    Tokyo’s markets saw gains Wednesday based on new data showing that Japan’s trade surplus quadrupled in August as automobile exports were up by 22 percent.

    Expectations of another interest rate cut in the United States after new reports from the housing market there also helped.

    The Nikkei 225 was 0.21 percent higher to 16,435.74 and the Topix index added 0.59 percent to 1,576.02, while the Mothers market jumped 8.13 percent to 682.78.

    Banks were higher on a report that investments in mutual funds at Japan’s three largest banks were up by 3 percent in August.

    Mizuho (TYO: 8411; NYSE: MFG) gained 1.1 percent to ¥628,000 while Sumitomo Mitsui (TYO: 8316) was 2.6 percent higher to ¥833,000.

    Mitsubishi UFJ (TYO: 8306; NYSE: MTU) is sitting out this week due to a stock split.

    Truck and bus maker Hino Motors (TYO: 7205) added 4 percent to ¥909 after a higher profits forecast based on higher demand from the Middle East and South America.

    In the retail sector, electronics retailer Yamada Denki (TYO: 9831) was up 3.5 percent to ¥10,610 after it raised its stake in Best Denki (TYO: 8175) to 7.71 percent and said that it wants to increase its stake in the competing retailer to 20 percent.

    Best Denki gained 4.3 percent to ¥854.

    Yamada Denki’s purchase and declaration came after Bic Camera (TYO: 3048) said that it would spend ¥5.7 billion to raise its stake in Best Denki to 9.33 percent.

    Bic Camera was 0.5 percent lower on the session to ¥59,700.

    The oil sector was lower on overnight declines in oil prices.

    Japan Petroleum Exploration (TYO: 1662) was 0.7 percent lower to ¥8,270, while Inpex (TYO: 1605) fell 5.8 percent to ¥1.13 million.

    Nuclear reactor manufacturer Toshiba (TYO: 6502; LSE: TOS), however, added 4.2 percent to ¥1,027 as investors speculated that its fiscal second quarter report will be better than anticipated.





    September 7, 2007

    Real estate still on decline

    Filed under: Companies, Mizuho, Canon, Toyota, Inpex, Mitsubishi UFJ, Sumitomo Metal Industries, Sumitomo Realty & Development, Japan Petroleum, Nintendo, Daiwa House, Sumitomo Mitsui

    Tokyo’s markets dropped again Friday on continuing worries about the condition of the property market there.

    The Nikkei 225 was 0.83 percent lower to 16,122.16, while the Topix index dropped 0.73 percent to 1,557.02 and the Mothers market dipped 0.93 percent to 704.82.

    The real estate sector was down 1.5 percent as a whole after the head of a major Japanese house builder said that the nation’s real estate price bubble could burst soon.

    Sumitomo Realty & Development (TYO: 8830) fell 1.8 percent to ¥3,310.

    In a related sector, house builder Daiwa House (TYO: 1925) was 1 percent lower to ¥1,435.

    Banks were lower as well, dropping 2.2 percent as a sector.

    Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was down 1.9 percent to ¥1.06 million, while Sumitomo Mitsui Financial Group (TYO: 8316) fell 3 percent to ¥846,000 and Mizuho Financial (TYO: 8411; NYSE: MFG) dropped 3.4 percent to ¥678,000.

    Exporters fell on the news that US house foreclosures were at an all-time high in the US in the second quarter.

    Carmaker Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was 0.5 percent lower to ¥6,600, while Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) was down 1.5 percent to ¥52,900 on the Osaka exchange and camera maker Canon (TYO: 7751; NYSE: CAJ) dropped 2.3 percent to ¥6,280.

    But some commodities-related shares were higher on higher prices for oil and gold.

    Inpex (TYO: 1609) was up 1.9 percent to ¥1.07 million while Japan Petroleum Exploration (TYO: 1662) added 6.5 percent to ¥7,880.

    Sumitomo Metal Mining (TYO: 5713) gained 2.2 percent to ¥2,340.





    January 5, 2007

    Isetan sees gains on record sales

    Filed under: Companies, Isetan, Nippon Steel, Canon, Toyota, Inpex, Honda, JFE, Toshiba, Sumitomo Metal Industries, Japan Petroleum, Mitsubishi Materials, Oji Paper, Toho Zinc, Fanuc

    The Tokyo equities markets were lower on Friday as trade volumes were low ahead of another holiday weekend. The Nikkei 225 dropped 1.51 percent to 17,091.51, while the Topix index was 1.4 percent lower to 1,675.33.

    The automobile manufacturing sector saw losses as investors took profits after recent gains. Toyota was down 2.4 percent to ¥7,900, while Honda fell almost 3 percent to ¥4,600.

    Other export-dependent sectors also saw declines. Canon was 2 percent lower to ¥6,530. Meanwhile, industrial robot manufacturer Fanuc fell 2.8 percent to ¥11,430. Bucking the trend was Toshiba, which was 1.64 percent higher to ¥808 on reports that it will develop a new boiling water reactor for nuclear power plants, to be marketed both domestically and in foreign markets by 2015.

    Declines in crude oil prices hurt oil companies. Inpex dropped 2.5 percent to ¥919,000, while Japan Petroleum fell almost 5 percent to ¥6,610.

    The steel sector was down as well, as were companies dealing in non-ferrous metals. Among steel makers, JFE was 5.7 percent lower to ¥5,750 and Nippon Steel was down 6 percent to ¥622. In the non-ferrous metals sector, Mitsubishi Materials fell 1.4 percent to ¥430, while Sumitomo Metal Mining was 2.5 percent lower to ¥1,456 and Toho Zinc dropped 7.4 percent to ¥1,021.

    Gainers on the day included department store Isetan, which added 2 percent to ¥2,230 on record sales. Oji Paper was helped by the decline in crude oil prices, gaining almost 4 percent to ¥675.





    January 4, 2007

    Carmakers helped by weak yen

    Filed under: Companies, Sony, NTT, Hitachi, Toyota, Matsushita Electric Industrial, Nissan, Honda, Japan Petroleum, Idemitsu Kosan

    In the first trading day since the beginning of the new year, the Tokyo equities markets were higher Thursday as export-dependent shares gained on a weak yen. The Nikkei 225 added 0.74 percent to 17,353.67, while the Topix index was 1.06 percent higher to 1,698.

    In the electronics sector, Sony was up 1.8 percent to ¥5,190, while Matsushita added 2.3 percent to ¥2,430 even though it is facing a legal challenge to its patent on Bluetooth technology. Hitachi, meanwhile, was 6.1 percent higher to ¥787 on hopes raised by its joint venture in power generation with US company General Electric.

    Carmakers were also helped by the yen’s weakness. Honda gained 1.1 percent to ¥4,750, while Nissan was up 1.4 percent to ¥1,454. Toyota was 1.8 percent higher to ¥8,110. Expectations are that Toyota could take over as the world’s biggest automobile manufacturer this year.

    In the telecommunications sector, NTT DoCoMo added 3.2 percent to ¥194,000 on reports that it is looking to keep costs low while it builds a new, “super” 3G network.

    The oil sector saw declines on the session after declines in the price of crude oil. Japan Petroleum Exploration dropped almost 2 percent to ¥6,940. Refiner Idemitsu Kosan was 2.84 percent lower to ¥11,640.





    September 26, 2006

    Topix index drops 0.7 percent

    Filed under: Companies, Toyota, Mitsui OSK, Nippon Yusen, Kawasaki Kisen, Astellas Pharma, Honda, Sumitomo Metal Industries, Softbank, Japan Petroleum, Takeda, JAL, All Nippon Airways, Fuji Electric

    The Tokyo equities markets were lower on Tuesday, falling on declines in export-focused stocks. Transport stocks were also lower after an overnight rise in crude oil prices. The Nikkei 225 was 0.5 percent lower to 15,557.45, while the Topix index dropped 0.7 percent to 1,549.41.

    Oil and commodities stocks were higher on the gains in the prices of oil and other commodities. In the oil sector, Japan Petroleum Exploration added 1.2 percent to ¥6,850 and Inpex gained 2.1 percent to ¥907,000. Sumitomo Metal Mining was 0.8 percent higher to ¥1,457.

    The shipping sector dropped 2.8 percent as a whole on the rise in oil prices. Nippon Yusen dropped 2.1 percent to ¥708, while Mitsui OSK was 3.1 percent lower to ¥832 and Kawasaki Kisen fell 3.8 percent to ¥739. Elsewhere in transport related stocks, airlines were lower as well. All Nippon Airways declined 1.5 percent to ¥469, while Japan Airlines dropped 2.6 percent to ¥225.

    Carmakers were also lower, with Honda and Toyota each falling 0.8 percent, to ¥3,800 and ¥6,240 respectively.

    The pharmaceuticals sector saw losses on the day. Takeda fell 1.5 percent to ¥7,210, while Astellas dropped 1.7 percent to ¥4,590.

    Some individual stocks saw gains, however. Softbank, with interests in telecommunications and the internet, was 3.8 percent higher to ¥2,190. Fuji Electric added 3.3 percent to ¥587 after Nikko Citigroup initiated coverage with a target share price of ¥800.





    June 8, 2006

    Nikkei down 3.1 percent

    Filed under: Companies, Toyota, Inpex, Daiwa Securities, Honda, Nippon Sheet Glass, Japan Petroleum, Skylark

    Equities markets in Tokyo fell again on Thursday as concerns remained about the state of the US economy. The Nikkei 225 dropped 3.1 percent to 14,633.03, its largest one-day decline in a year. Meanwhile, the Topix index was down 3.3 percent to 1,482.22.

    The oil sector was down on declining oil prices. Oil developer Inpex Holdings fell 2.1 percent to ¥888,000. Japan Petroleum Exploration was down 5.1 percent to ¥6,670.

    Exporters were also down substantially on worries that US demand could be down if the economy slows and if the US Federal Reserve continues to raise interest rates. Automobile manufacturers were among the losers. Toyota dropped 3.4 percent to ¥5,720, while Honda lost 3.6 percent to ¥6,930.

    However, some more domestically-focused sectors were also down on the day. Daiwa Securities, for example, declined by 4.2 percent to ¥1,294.

    There were gains on the day in individual stocks. Restaurant chain Skylark added 14 percent to ¥2,365 on rumors that it may be planning a buyout worth upwards of $2.3 billion. Also up was Nippon Sheet Glass, which gained 4.9 percent to ¥599 on news that the European Commission has approved its purchase of Pilkington. This bucked the trend in the glass and ceramics sector, which fell by 2.6 percent on the day.





    April 20, 2006

    Oil takes Tokyo markets higher

    Filed under: Companies, Japan Petroleum, Aiful, Oji Paper, Nippon Paper, Nippon Mining, Promise, Nippon Oil, Showa Shell, Cosmo Oil, Mitsubishi, Mitsui & Company

    Oil-related stocks were up on the day in Tokyo on Thursday, but there was very little movement in the equities markets as a whole. The Nikkei dropped slightly, by 0.2 percent to 17,317.53, while the Topix index was unchanged at 1,747.86.

    Oil stocks rose after a report that wholesale gasoline prices could go up next month, possibly as much as ¥4 per litre. Nippon Oil gained 1.5 percent to ¥961, while Showa Shell added 2.9 percent to ¥1,425 and Cosmo Oil added 2.4 percent to ¥679. Japan Petroleum Exploration was up by 3.2 percent to ¥8,370. Nippon Mining, which also has oil interests, gained 1.3 percent to ¥1,152.

    Trading houses were also up. Mitsubishi added 3 percent to ¥2,920 and Mitsui & Co was up 1.1 percent to ¥1,824 when it said that it was thinking about new investments to expand its commodities trading.

    On the other hand, the consumer loan sector was down again on the possibility that new lending laws might reduce the maximum amount of interest lenders can charge borrowers. Aiful was down 5.4 percent to ¥6,320, while Promise declined by 2.9 percent to ¥6,600.

    The paper and pulp sector was down as well, by 1.8 percent as a whole, mainly on concerns about rising raw materials costs. Nippon Paper declined by 2.4 percent to ¥484,000. Oji Paper, Japan’s largest paper manufacturer, was down 2 percent to ¥686.





    April 11, 2006

    Tokyo markets declne despite gains for miners, oil

    Filed under: Companies, Mitsui Fudosan, Advantest, Inpex, Mitsubishi UFJ, Nomura, Toshiba, Sumitomo Metal Industries, Japan Petroleum, NEC, Toho Zinc, Nippon Mining

    The Tokyo equities markets were down on Tuesday as technology and domestic stocks were down. The Nikkei 225 dropped by 0.2 percent to 17,418.13 and the Topix index was down 0.4 percent to 1,770.18.

    The technology sector declined after downgrades from Mizuho Securities. NEC Electronics declined by 2.9 percent to ¥4,620. Chip-testing equipment manufacturer Advantest dropped 2.8 percent to ¥14,580. Toshiba was down by 2.7 percent to ¥727.

    The banking sector was down by 0.5 percent as a whole, with Mitsubishi UFJ losing 0.5 percent to ¥1,910,000.

    Securities dropped 0.8 percent as a sector, with Japan’s largest securities house, Nomura, losing 1.6 percent to ¥2,720.

    The real estate sector, however, was up a bit after earlier losses. Mitsui Fudosan added 0.8 percent to ¥2,650

    The biggest gainers on the day were the miners and the oil sector. Among miners, Toho Zinc was up 3 percent to ¥1,220 and Sumitomo Metal Mining added 1.4 percent to ¥1,741. Nippon Mining, which deals both in non-ferrous metals and in petroleum products, gained 7.1 percent to ¥1,097. Among oil companies, Japan Petroleum Exploration was up 3.9 percent to ¥8,180, while Inpex added 2.4 percent to ¥1,260,000.





    March 29, 2006

    Tokyo markets rise on real estate

    Filed under: Companies, Sony, NTT, Tokyu Land, Matsushita Electric Industrial, Mitsubishi Estate, Mitsubishi UFJ, Toshiba, Japan Petroleum, AOC, NEC

    Equity markets in Tokyo were up on Wednesday as the yen weakened but confidence in Japan’s economic recovery strengthened. The Nikkei 225 closed out the day up by 1.5 percent to 16,938.41, its highest ending level in five years, while the Topix index added 1.1 percent to end the session at 1,711.54.

    The real estate sector was up again, with Tokyu Land and Mitsubishi Estate each gaining 1.7 percent, to ¥1,022 and ¥2,715 respectively, while NTT Urban Development added 2 percent to ¥983,000. A national land price survey showed that prices have risen in Tokyo, Osaka, and Nagoya for the first time in 15 years.

    Banking was also up on the day, by 1.3 percent as a sector. Mitsubishi UFJ added 1.8 percent to ¥1,171,000.

    An increase in the price of crude oil sent shares in upstream oil companies up. AOC added 5.1 percent to ¥2,165, while Japan Petroleum Exploration gained 4.2 percent to ¥7,240.

    Export-dependent companies benefited from the rise in the value of the dollar after the US Federal Reserve again raised interest rates. NEC added 2.6 percent to ¥776, while Matsushita Electrical, which makes the Panasonic brand, gained 2.3 percent to ¥2,635. Toshiba advanced by 2 percent to ¥672. Sony was up 1.9 percent to ¥5,370.





    March 14, 2006

    Tokyo markets down on domestic sectors

    Filed under: Companies, Hitachi, Toyota, Tokyu Land, Inpex, Nomura, Seven & I, East Japan Railway, Chugai Pharmaceutical, Elpida Memory, Japan Petroleum

    The Tokyo equities markets were down on Tuesday as domestically-oriented stocks could not sustain the gains they achieved on Monday. The Nikkei 225 ended the day down by 0.8 percent to 16,238.36, while the Topix index dropped 0.5 percent to 1,665.79.

    Retail was down 0.6 percent in the sector with Seven & I down 1.3 percent to ¥4,460. In transport, East Japan Railway also lost 1.3 percent on the day to ¥861,000. The securities sector also dropped, by 0.7 percent, with Nomura down to ¥2,350.

    Real estate managed slight gains, with Tokyu Land gaining 1.2 percent to ¥1,081.

    Export-reliant sectors were damaged by the yen’s climb in relation to the US dollar. Electrical machinery was down 0.8 as a sector, with Elpida Memory falling 3.1 percent to ¥4,100 and Hitachi declining 0.9 percent to ¥805. Elsewhere, Toyota was down 0.3 percent to ¥6,320.

    Chugai Pharmaceutical dropped 3.5 percent to ¥2,195 on a downgrade from “neutral” to “sell” from Merrill Lynch, which cited a probable drop in sales of, Epogin, an anti-anemia drug.

    Rising crude oil prices helped upstream oil companies, with Japan Petroleum up 1.6 percent to ¥6,830 and Inpex up to ¥1,050,000.





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