Monday, April 25, 2005

Tokyo markets slightly up on reports anticipation

by Brian Turner

In Japan’s technology sector, Hitachi rose 0.3 percent on Monday as investors awaited the release of a quarterly report that was expected to bring positive earnings news. But other tech stocks saw mixed results. Trend Micro fell 4.2 percent after a programming but caused machines using its software to malfunction. Matsushita Electric Industrial was 0.3 percent. The

Tokyo markets in general were up slightly on Monday, mostly due to indications that tensions with China were beginning to ease even though a weekend meeting between leaders of Japan and China did not completely resolve the dispute over a Japanese history textbook as well as in anticipation of several upcoming quarterly reports that are expected to show earnings growth.

The Nikkei 225 rose 0.3 percent to 11,073.77 and the Topix was up 0.1 percent to 1,132.17.

In the transportation sector, Japan Airlines fell 0.7 percent. West Japan Railway fell 3.6 percent after a fatal accident involving one of its trains.

There was good news from the pharmaceuticals sector as Chugai Pharmaceutical, the Japanese arm of Switzerland’s Roche, was up 1.9 percent on a report of good quarterly profits, which were mostly due to the sales of its flu drug Tamiflu. This news also helped rival companies, with Sankyo rising 2.2 percent and Takeda Pharmaceutical up 1.6 percent.

 

 

 

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