Friday, March 10, 2006

Tokyo markets higher to end week

by Brian Turner

Japanese equities markets were up on Friday, with the Nikkei 225 gaining 0.5 percent to 16,115.63 and the Topix index adding 0.4 percent to 1,647.27, with gains in both domestic and export-dependent sectors. Analysts did not attribute the gains directly to Thursday’s decision by the Bank of Japan to tighten monetary policy, but said that the move showed confidence in Japan’s economy, encouraging investment.

The retail sector gained 2 percent as a whole, while real estate was up 2.4 percent. Mitsui Fudosan added 1.8 percent to ¥2,595, while NTT Urban Development advanced by 6.5 percent to ¥971,000.

Convenience store company Lawson gained 2 percent to ¥4,510.

The securities sector gained 1.3 percent, with Nomura 1.5 percent higher to ¥2,320, while rival Daiwa Securities gained 1.1 percent to ¥1,410. Online broker Kabu.com ended the day up by 2.1 percent to ¥294,000.

In export-dependent sectors, construction machinery manufacturer Komatsu was up 3.2 percent to ¥1,998, automobile manufacturer Honda Motor added 1.3 percent to ¥7,050, and steel maker JFE gained 1.9 percent to ¥4,370.

 

 

 

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