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 24, 2007

    Tokyo banks fall on US news

    Filed under: Companies, Mizuho, Mitsubishi UFJ, Fast Retailing, Sumitomo Metal Industries, Chugai Pharmaceutical, Sumitomo Mitsui, Sumitomo Chemical

    Tokyo’s markets were mixed on Wednesday’s session.

    The Nikkei 225 was 0.56 percent lower to 15,358.39 and the Topix index fell 0.43 percent to 1,563.86, but the Mothers market added 2.21 percent to 923.56.

    The banking sector was disturbed by the report concerning Merrill Lynch’s (NYSE: MER; TYO: 8675) writedowns.

    Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was down 0.8 percent to ¥1,038, while Sumitomo Mitsui (TYO: 8316) dropped 1.3 percent to ¥840,000 and Mizuho Financial (TYO: 8411; NYSE: MFG) fell 1.5 percent to ¥612,000.

    Gainers on the session included Chugai Pharmaceutical (TYO: 4519), which added 5.3 percent to ¥1,897 after it reported that net income was up 8.5 percent in the third quarter.

    Other gains came on broker upgrades.

    Sumitomo Metal Industries (TYO: 5405) was up 2 percent to ¥601 and Sumitomo Chemical gained 4 percent to ¥1,031 after Daiwa upped its rating on the materials sector to “outperform”.

    In the retail sector, Fast Retailing (TYO: 9983) jumped 6.8 percent to ¥7,040 after Merrill Lynch increased its recommendation from “neutral” to “buy”.





    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.





    September 21, 2007

    Tokyo markets decline in slow trade

    Filed under: Companies, Sony, Canon, Toyota, Inpex, Sharp, Honda, Sumitomo Metal Industries, Aiful, Takefuji, Acom, Pioneer, UFJ Nicos

    Tokyo’s markets were lower in limited trade on Friday ahead of another three-day weekend.

    The Nikkei 225 was down 0.62 percent to 16,312.61, while the Topix index fell 0.94 percent to 1,552.07 and the Mothers market was 0.37 percent lower to 625.93.

    Exporters were lower as the yen gained value versus the US dollar and investors worried that sales in the US could decline.

    Among carmakers, Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) dropped 1.9 percent to ¥6,560 while Honda Motor (TYO: 7267; NYSE: HMC) was down 3.1 percent to ¥3,750.

    In the electronics sector, Sony was 1.8 percent lower to ¥5,340 while camera maker Canon (TYO: 7751; NYSE: CAJ) fell 2.2 percent to ¥6,150.

    Sharp (TYO: 6753) and Pioneer (TYO: 6773) were both lower after reports that each company will buy shares in the other.

    Sharp dropped 2 percent to ¥1,920 and Pioneer was 2.2 percent lower to ¥1,370.

    The consumer finance sector was lower for a second day in a row following Thursday’s announcement of losses by UFJ Nicos (TYO: 8583).

    Acom (TYO: 8572) dropped 8.8 percent to ¥2,335, while UFJ Nicos fell another 13 percent to ¥207, Aiful (TYO: 8515) slipped 13.7 percent to ¥1,494 and Takefuji (TYO: 8564) was 13.8 percent lower to ¥2,000.

    Commodities-related shares, however, saw gains as prices rose.

    In the oil sector, Inpex (TYO: 1605) gained 2.5 percent to ¥1.22 million, while Sumitomo Metal Mining (TYO: 5713) added 5.1 percent to ¥2,770.





    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.





    August 31, 2007

    Oil, miners up on session

    Filed under: Companies, Sony, Mizuho, Toyota, Mitsui OSK, Kawasaki Kisen, Inpex, Mitsubishi UFJ, Sumitomo Metal Industries, Nippon Paper, Rengo Co

    The Tokyo markets had the highest percentage gains in the Asia-Pacific region Friday, with the Nikkei 225 gaining 2.57 percent to 16,569.09 and the Topix adding 2.55 percent to 1,608.25.

    The Mothers market saw a more modest gain of 1.87 percent to 729.66.

    Stocks related to commodities were higher, with Sumitomo Metal Mining (TYO: 5405) up 5 percent to ¥2,300 and oil group Inpex (TYO: 1605) jumping 6 percent to ¥1.06 million.

    Shippers were also higher.

    Kawasaki Kisen Kaisha (TYO: 9107) was 3.7 percent higher to ¥1,496, while Mitsui OSK (TYO: 9104) gained 4.3 percent to ¥1,706.

    A weakening yen helped export-focused stocks.

    Sony (TYO: 6758; NYSE: SNE) had its biggest gain since early January as it added 5.5 percent to ¥5,580, while carmaker Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was 3.7 percent higher to ¥6,760.

    The paper sector saw gains after a report that Nippon Paper (TYO: 3893) and Rengo Co (TYO: 3941), Japan’s biggest cardboard producer, will combine their cardboard operations next year.

    Nippon gained 3.5 percent to ¥390,000 and Rengo was 7.6 percent higher to ¥723.

    Banks were initially lower after Lehman Brothers (NYSE: LEH) reduced its profits forecasts on four investment banks, but Mitsubishi UFJ (TYO: 8306; NYSE: MTU) managed to bounce back from a 1.8 percent decline to a gain of 1.8 percent to ¥1.11 million. Mizuho (TYO: 8411; NYSE: MFG) was up 2.7 percent to ¥733,000.





    August 17, 2007

    Topix, Mothers index drop 5.5 percent each

    Filed under: Companies, Canon, Toyota, Honda, Sumitomo Metal Industries, KDDI, Nintendo, Meiji Dairies

    Tokyo equities markets were significantly lower on Friday.

    The Nikkei 225 fell 5.42 percent to 15,273.68 for its biggest one-day percentage drop since the September 11 attacks in New York and Washington, DC, in 2001.

    Meanwhile, the Topix index and the Mothers market each were down 5.55 percent, to 1,480.39 and 688.46 respectively.

    The decline for the Topix was the biggest in over a year.

    The Bank of Japan put another ¥1.2 trillion ($10.7 billion) into the system during the day to try to improve liquidity.

    The yen strengthened again, leaving export-related shares suffering.

    Among carmakers, Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) fell 7.2 percent to ¥6,190 and Honda Motor (TYO: 7262; NYSE: HMC) dropped 8.2 percent to ¥3,470.

    Camera maker Canon (TYO: 7751; NYSE: CAJ) was 8.6 percent lower to ¥5,400, while Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) was down by the exchange-set daily limit of ¥5,000 to ¥46,700, a decline of 9.7 percent.

    With commodities prices much lower on Thursday around the world, Sumitomo Metal Mining (TYO: 5405) fell 16 percent to ¥1,940 for its biggest one-day decline since early October 1999.

    There were gainers on the session.

    Record high temperatures in Japan helped ice cream maker Meiji Dairies (TYO: 2261) to add 2.4 percent to ¥648, while mobile phone operator KDDI (TYO: 9433) was 3.7 percent higher to ¥868,000.





    August 13, 2007

    Commodities-related shares see gains

    Filed under: Companies, Mitsui OSK, Kawasaki Kisen, Sumitomo Metal Industries, Credit Saison, Aeon, Mitsubishi Materials, Cosmo Oil, Sumitomo Mitsui, Mitsumi Sumitomo Insurance, Yamada Denki

    Tokyo’s markets were mixed Monday.

    While the Nikkei 225 gained 0.21 percent to 16,800.05, the Topix index dropped 0.08 percent to 1,632.64.

    The Mothers market of small and mid-caps was up 0.65 percent to 767.49.

    Shares related to commodities were higher during the day.

    Sumitomo Metal Mining (TYO: 5405) gained 4.4 percent to ¥2,380, while metals smelter Mitsubishi Materials (TYO: 5711) was 9.8 percent higher to ¥639.

    After losing 17 percent last week, Cosmo Oil (TYO: 5007) was up 4.2 percent to ¥547.

    Shippers were up as well.

    Mitsui OSK Lines (TYO: 9104) gained 1.5 percent to ¥1,623, while Kawasaki Kisen (TYO: 9107) added 3.9 percent to ¥1,485.

    On the other hand, financial services and the retail sector were both lower.

    Sumitomo Mitusi Financial Group (TYO: 8316) dropped 1.2 percent to ¥988,000, while insurer Mitsui Sumitomo (TYO: 8752) was 4.6 percent lower to ¥1,364.

    Credit card issuer Credit Saison (TYO: 8253) was 5.3 percent lower to ¥2,840 after it said that it has seen costs related to bad loans go up by 41 percent.

    In the retail sector, Aeon (TYO: 8267) was down 5.3 percent to ¥1,857, while electronics retailer Yamada Denki (TYO: 9831) fell 6.8 percent to ¥11,640.





    July 31, 2007

    Steel sector declines on investigation

    Filed under: Companies, Nippon Steel, Sanyo, Kyocera, Sharp, JFE, Sumitomo Metal Industries, Nikon

    The Nikkei 225 one of the few Asian equities indices that showed a decline on Tuesday

    The Nikkei dropped 0.2 percent to 17,248.89, while the Topix index closed barely higher at 1,706.18 and the Mothers market added 1.38 percent to 864.7.

    Earnings results and other news drove gains and losses on the session in Tokyo.

    Among banks, Shinsei Bank (TYO: 8303) added 6.4 percent to ¥448 on its report that quarterly recurring profit had gone up by 22 percent in its fiscal first quarter, while net income had risen by 63 percent.

    The steel sector, on the other hand, saw declines after Japan’s Fair Trade Commission said it has begun an investigation into Nippon Steel (TYO: 5401) and JFE (TYO: 5411) concerning whether the two had engaged in price-fixing.

    JFE was 1.7 percent lower to ¥8,210, while Nippon Steel dropped 2 percent to ¥900 as ¥91 billion in shares changed hands on the session.

    Sumitomo Metal (TYO: 5405) fell 2.7 percent to ¥692.

    The electronics sector was mixed,

    Sharp (TYO: 6753) added 1.5 percent to ¥2,065 ahead of news after the close that it will build a new plant in Japan, while Sanyo Electric (TYO: 6764; NAS: SANYY) was 0.5 percent lower to ¥185 on a drop in operating profit of 72 percent in its fiscal first quarter, while Kyocera (TYO: 6971) dropped 6.3 percent to ¥11,500 on disappointing broker comments.

    Camera maker Nikon (TYO: 7731) added 5.5 percent to ¥3,820 after Nikko Citigroup raised its target share price.





    February 20, 2007

    Steel sector gains on stake-building

    Filed under: Companies, Nippon Steel, eAccess, Sumitomo Metal Industries, Japan Steel Works, Nissan Diesel Motor, Nakayama Steel Works

    As the Bank of Japan began its two days of meetings ahead of announcing a new decision on interest rates, the Nikkei 225 closed even Tuesday at 17,939.12, while the Topix index added 0.2 percent to 1,782.73. Investors remained cautious ahead of the Bank’s announcement, scheduled for Wednesday, while analysts were divided over whether rate would go up or not. The banking sector fell 0.2 percent amid uncertainty over what the Bank will decide.

    Bids news was in focus. In the automobile manufacturing sector, the news that Volvo (Stockholm Stock Exchange: VOLV A, VOLV B; NASDAQ: VOLV) will acquire Nissan Diesel Motor (TYO: 7210) produced so many buy orders at ¥523, 18.1 percent higher than at the close on Monday, that the company’s shares did not trade on the session.

    In the steel sector, Nippon Steel (TYO: 5401) added 2.6 percent and Nakayama Steel Works (TYO: 5408) was 6.6 percent higher after Nippon said that it has increased its stake in Nakayama to 8.72 percent. Nippon closed at ¥785, while Nakayama ended the session at ¥501. Elsewhere in the sector, Sumitomo Metal Mining (TYO: 5405) gained 4.1 percent to ¥1,890, while Japan Steel Works was up 7.4 percent to ¥1,214.

    EAccess (TYO:9427) was 6 percent higher to ¥83,000 after its mobile phone division said it would start offering wireless data services at the end of March.





    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.





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