Tuesday, April 11, 2006

Tokyo markets declne despite gains for miners, oil

by Brian Turner

The Tokyo equities markets were down on Tuesday as technology and domestic stocks were down. The Nikkei 225 dropped by 0.2 percent to 17,418.13 and the Topix index was down 0.4 percent to 1,770.18.

The technology sector declined after downgrades from Mizuho Securities. NEC Electronics declined by 2.9 percent to ¥4,620. Chip-testing equipment manufacturer Advantest dropped 2.8 percent to ¥14,580. Toshiba was down by 2.7 percent to ¥727.

The banking sector was down by 0.5 percent as a whole, with Mitsubishi UFJ losing 0.5 percent to ¥1,910,000.

Securities dropped 0.8 percent as a sector, with Japan’s largest securities house, Nomura, losing 1.6 percent to ¥2,720.

The real estate sector, however, was up a bit after earlier losses. Mitsui Fudosan added 0.8 percent to ¥2,650

The biggest gainers on the day were the miners and the oil sector. Among miners, Toho Zinc was up 3 percent to ¥1,220 and Sumitomo Metal Mining added 1.4 percent to ¥1,741. Nippon Mining, which deals both in non-ferrous metals and in petroleum products, gained 7.1 percent to ¥1,097. Among oil companies, Japan Petroleum Exploration was up 3.9 percent to ¥8,180, while Inpex added 2.4 percent to ¥1,260,000.

 

 

 

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