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 4, 2007

    Electric generators lower after leak

    Filed under: Companies, Mitsui Fudosan, Mitsui OSK, Kawasaki Kisen, Mitsubishi Estate, Tokyo Electric Power, Kansai Electric, Sekisui House

    Tokyo’s markets saw declines on Tuesday.

    The Nikkei 225 fell 0.63 percent to 16,420.47 and the Topix index dropped 0.7 percent to 1,596.74, while the Mothers market was 0.1 percent lower to 733.41.

    The utilities sector was lower after Kansai Electric Power (TYO: 9503) had halt power generation at a nuclear facility in western Japan due to a leak of radioactivity inside the plant.

    Kansai dropped 2 percent to ¥2,690, while Tokyo Electric Power (TYO: 9501) dropped 1.6 percent to ¥3,030 on the news.

    Clothing retailer Fast Retailing (TYO: 9983) was 3.6 percent lower to ¥6,490 on its declaration that it will continue to pursue acquisitions after recently failing to buy Barney’s New York.

    The real estate sector was down 1.8 percent as a whole on the news that capital spending was down by 47 percent in the sector from the same quarter last year.

    Mitsubishi Estate (TYO: 8802) dropped 1 percent to ¥3,010, while Mitsui Fudosan (TYO: 8801; NAS: MDSFF) was down 2.7 percent to ¥2,900.

    House builder Sekisui House (TYO: 1928; OTC: SKHSY) fell 3.7 percent to ¥1,425.

    In the transport sector, Kawasaki Kisen (TYO: 9107) dropped 0.78 percent to ¥1,535 and Mitsui OSK Lines (TYO: 9104) was down 1.1 percent to ¥1,725 after the price of dry freight rose again.





    December 21, 2006

    Utilities up 17.5 percent since September

    Filed under: Companies, Nippon Steel, Toyota, Nikko Cordial, Komatsu, Sumitomo Metal Industries, Tokyo Electric Power, Kansai Electric, Credit Saison, Aiful, Sanyo Shinpan

    Weakness in the yen helped the Tokyo equities markets to make gains on Thursday. However, advances were limited on the Nikkei because of a scandal in the consumer finance sector. The Nikkei 225 closed at 17,047.83, a gain of 0.2 percent, while the Topix index added 0.3 percent to 1,671.30.

    Export-focused sectors were especially helped by the weak yen. Toyota added 1.7 percent to ¥7,680, while construction equipment manufacturer Komatsu gained 3.4 percent to ¥2,410.

    The utilities sector also saw gains again, as the sector has gained 17.5 percent since the end of September on high dividend payments to shareholders. Tokyo Electric Power was 1 percent higher to ¥3,910 and Kansai Electric Power was up 1.6 percent to ¥3,260.

    The steel sector advanced on positive comments from Merrill Lynch and on the possibility of further consolidation in the sector worldwide. Nippon Steel gained 0.5 percent to ¥601 on rumors that it will gain control of Brazilian steel company Usiminas. Meanwhile, Sumitomo Metal Industries added 4.9 percent to ¥493 on a Merrill Lynch upgrade from “neutral” to “buy”.

    Consumer finance companies were affected by a 12-day business suspension of Sanyo Shinpan for improper practices. Shinpan dropped 5.5 percent to ¥3,260, while Aiful fell 5.1 percent to ¥3,360 and Credit Saison was 2.7 percent lower to ¥4,020.

    In the securities sector, Nikko Cordial began a comeback after being fined for accounting irregularities, adding 7.1 percent to ¥1,237.





    December 13, 2006

    Consumer finance sector lower as bill limiting interest passes

    Filed under: Companies, Isetan, Takashimaya, Sony, Canon, Sharp, Seven & I, Tokyo Electric Power, Kansai Electric, Credit Saison, Aiful, Takefuji, Tohoku Electric Power

    The Nikkei 225 and the Topix index both saw gains on Wednesday as export-focused stocks were up, but gains were limited by declines in utilities and in the consumer finance sector. The Nikkei added 0.3 percent to 16,692.93, while the Topix gained 0.2 percent to 1,639.19. Meanwhile, the Mothers index of small and mid-cap stocks dropped 1.1 percent to 1,125.85.

    In the retail sector, department stores saw gains but weren’t able to lift the sector as a whole. Takashimaya was 1.1 percent higher to ¥1,717, while Isetan ended 1.6 percent higher to ¥2,150. On the other hand, Seven & I dropped 0.6 percent to ¥3,630.

    Exporters that saw gains included Canon, which added 1.1 percent to ¥6,540. In the electronics sector, Sony was 1.9 percent higher to ¥4,880. Sharp, however, dropped 1.5 percent to ¥2,040 on the news that it is being investigated for price fixing of liquid crystal displays.

    Utilities were down on profit-taking. Tokyo Electric Power fell 0.5 percent to ¥3,720, while Kansai Electric Power and Tohoku Electric Power each dropped 0.7 percent to ¥3,050 and ¥2,895 respectively.

    The consumer finance sector declined after parliament passed a bill that will cut the maximum amount of interest the lenders can charger their customers. Takefuji was 1.1 percent lower to ¥4,470, while Aiful fell 1.6 percent to ¥3,610 and Credit Saison dropped 1.9 percent to ¥4,100.





    December 6, 2006

    Securities sector adds 1.7 percent

    Filed under: Companies, Mitsui Fudosan, Daiwa Securities, Nomura, Nikko Cordial, Kansai Electric, Sumitomo Realty & Development, Credit Saison, Takefuji, Promise, Jaccs, Tohoku Electric Power, Kyushu Electric Power

    The Nikkei 225 closed at 16,371.28 on Wednesday, a gain of 0.7 percent on the session and its highest close in a month. The Topix index was also higher, ending 1 percent higher to 1,615.17. Meanwhile, the Mothers index of small and mid-cap stocks was 1 percent higher to 1,116.51. The gains were largely on advances in domestic sectors.

    The securities sector was 1.7 percent higher as a whole, helped by gains in stocks that have brokers convinced that individual investors will come back to the market. Nomura Holdings and Nikko Cordial each matched the sector by adding 1.7 percent on the session, to ¥2,080 and ¥1,477 respectively. Daiwa Securities gained 2.3 percent to ¥1,335.

    Real estate also did well, with the sector adding 1.5 percent. Sumitomo Realty & Development was 1.6 percent higher to ¥3,790. Mitsui Fudosan added 1.8 percent to ¥2,835, bringing its gains since the middle of June to over 30 percent.

    Electricity generators were up substantially. Tohoku Electric Power gained 2.3 percent to ¥2,845, while Kyushu Electric Power was 3 percent higher to ¥3,050 and Kansai Electric Power added 3.3 percent to ¥3,120.

    The consumer finance sector was still on the rise. Jaccs gained 2.2 percent to ¥827, Takefuji added 2.6 percent to ¥4,770, Credit Saison was up 3.4 percent to ¥4,260, and Promise was 3.9 percent higher to ¥4,000.





    March 7, 2006

    Tokyo markets fall on domestic, export declines

    Filed under: Companies, Mitsui Fudosan, Mitsubishi UFJ, Seven & I, Softbank, Tokyo Electric Power, Kansai Electric, Olympus, Suzuki

    Equities markets in Tokyo were down on Tuesday on a general weakness in shares in both domestically focused and export-dependent sectors, as well as on uneasiness ahead of any announcement from the Bank of Japan‘s meeting on Thursday. The Nikkei 225 closed down by 1.1 percent to 15,726.02, while the Topix index dropped 0.5 percent to 1,617.87.

    Real estate was down 1.8 percent as a sector, with Mitsui Fudosan dropping 1 percent to ¥2,410 and Mitsubishi Estate down 1.6 percent to ¥2,415.

    The retail sector dropped 0.6 percent, as did banking. In retail, Seven and I lost 0.4 percent to ¥4,480. Banker Mitsubishi UFJ declined by 0.6 percent to ¥1,670,000.

    Electric utilities were down, as well. Tokyo Electric Power dropped 2.2 percent to ¥3,090 when Merrill Lynch downgraded it from “buy” to “neutral”. Kansai Electric lost 2 percent to ¥2,730.

    The precision machinery sector as a whole was down 1.1 percent, with Olympus dropping 2.2 percent.

    Softbank was down 8.5 percent to ¥3,140 when Standard & Poor’s put it on credit watch on the news that Softbank is in discussions toward purchasing UK telecommunications company Vodafone, which S&P sees as potentially putting too great a financial burden on Softbank.

    Bucking the negative trend, automobile manufacturer Suzuki gained 3 percent to ¥2,565 on the news that General Motors will sell most of its stake in Suzuki.





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