Tuesday, April 12, 2005

Tokyo markets suffer bad trading

by Brian Turner

Tokyo technology stocks were down almost uniformly, but with one spectacular exception on Tuesday.

The exception was Kubotek, an electronics testing company, was up 16.3 percent on rumors that they have developed a faster method of testing for defects in large LCD panels.

Otherwise, Sony was down 1.8 percent, Cannon fell 1.6 percent, and Toshiba was down 1.1 percent. Sharp, in the midst of legal troubles, was down 2.6 percent. Matters weren’t much better in the automobile manufacturing sector.

Tuesday saw Nissan Motors lose 1.3 percent, Toyota down by 1.2 percent, and Honda 1.1 percent lower.

Overall, the Nikkei 225 was down 0.6 percent, as total losses for Monday and Tuesday adding up to 200 points, and Topix was down as well, by 0.9 percent.

Besides disappointing activity in those sectors, the losses were blamed on the effects of a lower dollar and an overnight upturn in the price of crude oil.

 

 

 

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