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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    August 9, 2007

    Exporters helped by weakening yen

    Filed under: Companies, Sony, Canon, Inpex, Fast Retailing, Citizen Watch, Kinki Nippon Railway

    Tokyo’s equities markets were mixed Thursday as the Nikkei 225 gained 0.8 percent to 17,170.6 and the Topix index was up 0.9 percent to 1,683.81.

    The Mothers market was down again, however, falling 0.88 percent to 776.86.

    Some exporters were higher as the yen weakened.

    Sony (TYO: 6758; NYSE: SNE) added 0.8 percent to ¥6,000, while camera manufacturer Canon (TYO: 7751; NYSE: CAJ) was up 1.1 percent to ¥6,490.

    Citizen Watch (TYO: 7762) said that operating profit was up by 9 percent in the most recent quarter, sending shares 5.4 percent higher to ¥1,222.

    In the oil sector, Inpex (TYO: 1605) added 1.9 percent to ¥1.09 million on the news that it will build a liquefied natural gas terminal in northwest Japan.

    In other construction news Kinki Nippon Railway (TYO: 9041), Japan’s largest private railway, said Wednesday that it will build the tallest building in the country in Osaka, sending shares 7.3 percent higher to ¥399.

    In the retail sector, Fast Retailing gained 10.5 percent to ¥7,190 on the news that Jones Apparel (NYSE: JNY) will sell its Barney’s chain of department stores to a Dubai-based group.

    Fast Retailing withdrew its bid for the chain after the close of the session.





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