Tuesday, October 17, 2006

Nikkei, Topix each fall 0.5 percent

by Brian Turner

In the Tokyo equities markets on Tuesday both the Nikkei 225 and the Topix index dropped 0.5 percent on the session, to 16,611.59 and 1,637.95 respectively, while the Mothers index of small and mid-cap stocks dropped 0.3 percent to 1,178.26. Much of the declines were due to profit-taking after recent gains.

The consumer finance sector was mixed. Aiful added 1.4 percent to ¥4,320 and Credit Saison was 2.1 percent higher to ¥4,900. On the losing side of the ledger, Jaccs dropped 2.2 percent to ¥915, Promise was 3.7 percent lower to ¥4,200, and Takefuji fell 4.3 percent to ¥4,640.

NTT Data, the data unit of NTT, was 3.2 percent lower to ¥571,000 on a downgrade from “buy” to “neutral from Merrill Lynch after its share price met the broker’s target.

The transport equipment sector dropped 1.4 percent as the yen strengthened. Toyota declined even more than the average, falling 1.7 percent to ¥6,770.

Sony, which had rebounded somewhat recently, dropped 1.8 percent to ¥4,790, as the effect of battery recalls, delays, and a claim for damages from one laptop maker that used its batteries accumulated.

 

 

 

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