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 15, 2007

    Carmakers lower on broker comment

    Filed under: Companies, Toyota, Advantest, Tokyo Electron, Mitsui Mining, Honda, Toshiba, Sumitomo Metal Industries, Nippon Mining, Rohm

    Tokyo’s markets were mixed on the session Monday.

    The Nikkei 225 added 0.16 percent to 17,358.15, but the Topix index dropped 0.12 percent to 1,657.44 and the Mothers market was down 1.57 percent to 867.62.

    Carmakers were lower after HSBC Holdings said that Toyota (TYO: 7203.T; NYSE: TM; LSE: TYT) will likely see profits weaken in the second half of its current fiscal year as the US economy slows down.

    Toyota was 1.7 percent lower to ¥6,450, while Honda (TYO: 7267; NYSE: HMC) dropped 2 percent to ¥3,930.

    Miners were higher.

    Nippon Mining (TYO: 5016), which has interests in oil, coal and non-ferrous metals, added 1.6 percent to ¥1,196, while Sumitomo Metal Mining (TYO: 5713) gained 2.3 percent to ¥2,915 and Mitsui Mining (TYO: 5706) was up 4.2 percent to ¥2,915.

    In the semiconductors sector, chipmakers were lower but makers of equipment related to making and testing chips saw gains.

    Rohm (TYO: 6963) was down 0.7 percent to ¥10,120 and Toshiba (TYO: 6502; LSE: TOS) dropped 1.6 percent to ¥1,036 after Nomura dropped its recommendation on the sector from “bullish” to “neutral”.

    However Tokyo Electron (TYO: 8035) was up 2.9 percent to ¥7,510 while Advantest (TYO: 6857; NYSE: ATE) added 6.4 percent to ¥3,850.





    October 10, 2007

    Retailers see gains on agreement, upgrades

    Filed under: Companies, Takashimaya, Mizuho, Inpex, Daiei, Seven & I, Aeon, Nippon Mining, Mitsubishi, Mitsui & Company, JAL, Sumitomo Mitsui

    Tokyo’s markets were mixed on Wednesday.

    The Nikkei 225 was 0.1 percent higher to 17,177.89, but the Topix index dropped 0.11 percent to 1,658.18 and the Mothers market was down 1.75 percent to 857.19.

    Retailers saw gains on news of a cooperation agreement between Aeon (TYO: 8267) and Japan Airlines (TYO: 9205) in which the retailer will link its electronic money card to the airline’s frequent flyer miles program.

    Aeon added 6.2 percent to ¥1,784, while Japan Airlines gained 4.3 percent to ¥265.

    Elsewhere in the retail sector, department store operator Takashimaya (TYO: 8233) was 3.2 percent higher to ¥1,329 on better recommendations from Mizuho Securities and Nikko Citigroup.

    Mizuho raised its recommendation from “reduce” to “hold”, while Nikko upped their rating on the retailer from “hold” to “buy”.

    Elsewhere in the sector, Seven & I (TYO: 3382) was up 3.7 percent to ¥3,090 while supermarket chain Daiei (TYO: 8263; NAS: DAIEY) added 6.3 percent to ¥940.

    Traders and commodities-related groups were higher after oil and metals prices rose overnight.

    In the oil sector, Inpex (TYO: 1605) was up 3.4 percent to ¥1.21 million, while Nippon Mining (TYO: 5016) gained 2.1 percent to ¥1,177.

    Among traders, Mitsubishi and Mitsui & Co. each added 1.4 percent, to ¥3,520 and ¥2,810 respectively.

    Banks were lower, however. Mizuho (TYO: 8411; NYSE: MFG) was down 1.1 percent to ¥703,000 while Sumitomo Mitsui Financial (TYO: 8316) dropped 2.5 percent to ¥948,000.





    October 4, 2006

    Sony loses another 3.3 percent

    Filed under: Companies, Sony, Mizuho, Mitsui Fudosan, Matsushita Electric Industrial, Inpex, Mitsubishi Estate, Mitsubishi UFJ, Nippon Mining, Cosmo Oil, Nomura Real Estate

    The Tokyo equities markets were lower on Wednesday after North Korea again said that it is planning on testing a nuclear device at some point. The Nikkei 225 and the Topix index each dropped 1 percent to 16,082.55 and 1,601.99 respectively. The Mothers index of small and mid-cap stocks did even worse, falling 2.1 percent to 1,180.36.

    Falling commodity prices were also a factor in declines, as commodity-related stocks were down on the session. Upstream oil company Inpex was 2.1 percent lower to ¥873,000, while downstream oil company Cosmo Oil dropped 3.4 percent to ¥458. Nippon Mining, which both smelts copper and refines oil, fell 5.6 percent to ¥778.

    The electronics sector was also lower. Matsushita Electric Industrial, the world’s biggest consumer electronics manufacturer, declined 1.3 percent to ¥2,515, while Sony fell another 3.3 percent to ¥4,450 after Tuesday’s announcement that it will not launch its Blu-ray optical disc recorder in Japan until December, a month after Matsushita introduces its version.

    The worries over Korea’s nuclear program also hit the banking sector. Mitsubishi UFJ dropped 0.7 percent to ¥1,500,000 and Mizuho was 1.3 percent lower to ¥900,000. In the real estate sector, meanwhile, Mitsui Fudosan was up 0.4 percent to ¥2,695 and Mitsubishi Estate added 1.5 percent to ¥2,655, but Nomura Real Estate, which began trade on Tuesday, was 1.9 percent lower in Wednesday’s session to ¥4,040.





    May 22, 2006

    Tokyo markets follow rest of Asia

    Filed under: Companies, Sony, Sumitomo Metal Industries, KDDI, Elpida Memory, Nippon Mining, Nippon Suisan, Maruha

    In Tokyo, the Nikkei 225 closed at its lowest level in two months, dropping 1.8 percent to 15,857.87. The Topix index lost 1.4 percent to 1,615.86. Miners were down there, as well, with Nippon Mining losing 8 percent to ¥948 and Sumitomo Metal Mining down by 3.9 percent to ¥1,471.

    Among Japanese semiconductor companies, Elpida Memory lost 5.2 percent to ¥4,890 on a restatement of last year’s earnings that showed an even wider net loss than had been previously reported. In the electronics sector, Sony added 0.8 percent to ¥5,120 on the announcement that mobile carrier KDDI has plans to launch a line of Walkman-type mobiles manufactured by Sony Ericsson. The news sent shares in KDDI up 1.4 percent to ¥737,000.

    Seafood processing groups saw the biggest gains for the day in Tokyo, with Nippon Suisan adding 10.2 percent to ¥584 and Maruha gaining 3.3 percent to ¥282. The sector has been benefiting from foreign demand for their products.





    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.





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