Monday, March 13, 2006

Tokyo exporters, domestics rise on optimism

by Brian Turner

Tokyo’s equities markets were up on Monday as optimism about the economy sent shares in both export-dependent and domestic sectors higher on the day. The Nikkei 225 closed at 16,391.51, 1.5 percent higher and its highest close in over a month. The Topix index gained 1.7 percent to close at 1.674.66.

Among domestics, the banking sector was up 1.5 percent on the day, while real estate gained 2.2 percent, securities were up 2.5 percent, and retailers grew by 1.7 percent as a whole. Land transport was up 2.5 percent.

Within export-heavy sectors, automible manufacturing was up, including a 1.4 percent jump to ¥7,150 for Honda. Electrical machinery also gained, with Sony gaining 1.1 percent to ¥5,580.

East Japan Railway, Japan’s largest railroad operator, was up 4.1 percent to ¥872,000.

In the real estate sector, Mitsui Fudosan gained 1.7 percent to ¥2,640, while Tokyu Land was up 4.8 percent to ¥1,068.

Among banks, Mitsubishi UFJ, gained 2.4 percent to ¥1,730,000, while SMFG rose by 1.6 percent to ¥1,290,000. In the securities sector Nomura, Japan’s largest house, advanced by 2.6 percent to ¥2,380.

The retail sector was mixed on the day, with department store chain Mitsukoshi up 2.8 percent to ¥690 but convenience store operator Lawson down 0.9 percent to ¥4,470 on profit taking.

 

 

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