Friday, June 16, 2006

Domestic stocks up sharply in Tokyo

by Brian Turner

Equities markets in Tokyo saw substantial gains on Friday in both domestic and export-focused sectors. The Nikkei 225 ended the day 2.8 percent higher at 14,879.34, while the Topix index added 3.3 percent to 1,534.71.

The steel sector added 4.7 percent as a whole on increased demand around the world. Nippon Steel was up 3.9 percent to ¥405, while Kobe Steel and Sumitomo Metal Mining each advanced by 4.6 percent to ¥339 and ¥1,330 respectively.

Banks were up 4.3 percent as a sector on the expectation that interest rates will rise in July. Mitsubishi UFJ gained 4.2 percent to ¥1,490,000, while Mizuho Financial advanced by 4.9 percent to ¥892,000.

Mitsui Fudosan was up 3.9 percent to ¥2,295 and Daiwa House added 5.1 percent to ¥1,773 as the real estate sector as a whole added 4.1 percent.

Retail saw gains as well. Seven & I advanced by 2.2 percent to ¥3,710, while Aeon gained 4.4 percent to ¥2,500.

The pharmaceuticals sector was up, but only by 0.8 percent and results were mixed for companies within the sector. Astellas Pharmaceuticals added 1 percent to ¥4,020, but Chugai and Daiichi Sankyo lost share value, by 0.9 percent to ¥2,205 and by 2 percent to ¥2,725 respectively.

 

 

 

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