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 14, 2007

    Exporters gain on weaker yen

    Filed under: Companies, Sony, Mizuho, Canon, Toyota, Matsushita Electric Industrial, Mitsubishi UFJ, Nintendo, Sumitomo Mitsui, Sapporo

    The Tokyo equities markets were higher Friday after the yen weakened, sending export-focused stocks higher.

    The Nikkei 225 was 1.94 percent higher to 16,127.42.

    The Topix index gained 1.43 percent to 1,544.71, while the Mother’s market was up 1.34 percent to 637.25.

    In the electronics sector, Sony (TYO: 6758; NYSE: SNE) was up 2.1 percent to ¥5,420.

    Digital camera maker Canon (TYO: 7751; NYSE: CAJ) added 2.7 percent to ¥5,990, while Matsushita Electric Industrial (TYO: 6572; NYSE: MC) gained 3.9 percent to ¥2,045 on an upgrade from “neutral” to “buy” from Goldman Sachs (NYSE: GS).

    Game console manufacturer Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) jumped 5.6 percent to ¥55,100 on sales of its Wii console, which sold many more units than Sony’s PlayStation 3 in August in the United States.

    Among carmakers, Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was up 2.4 percent to ¥6,530 on reports that it will build its first new factory in Japan in nearly 20 years.

    Banks gained on a JP Morgan (NYSE: JPM; TYO: 8634) recommendation to buy.

    Sumitomo Mitsui (TYO: 8316) was 3.9 percent higher to ¥821,000, while Mitsubishi UFJ (TYO: 8306; NYSE: MTU) added 4 percent to ¥1.04 million and Mizuho (TYO: 8411; NYSE: MFG) was up 4.5 percent to ¥657,000.

    Brewer Sapporo (TYO: 2501) gained 7.9 percent to ¥742 on a possible bid from Steel Partners, a US hedge fund.





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