Tuesday, October 31, 2006

Nikkei gains 0.3 percent on session

by Brian Turner

Tokyo’s equities markets were mixed on Tuesday, with the Nikkei 225 0.3 percent higher to 16,399.39 but the Topix index dropping 0.2 percent to 1,617.42 on the session.

The banking sector was 1.2 percent lower as a whole as the possibility of interest rates going up again has declined amid domestic economic data which hasn’t lived up to expectations.  Meanwhile, the consumer finance sector saw another round of declines after some companies reduced their earnings estimates for the first half of the year.  Aiful declined 1 percent to ¥4,040, while Acom dropped 2 percent to ¥4,500 and Promise ended 3 percent lower to ¥4,230.  Sanyo Shinpan Finance fell 5.9 percent to ¥4,470.

The telecommunications sector did little better.  Softbank dropped 2.9 percent to ¥2,560 after it became known that Japan’s Fair Trade Commission is concerned about the company’s new pricing plan.  The news that  Softbank lost around 20,000 customers in the first five days of number portability also contributed to its decline.  NTT DoCoMo fell 1.1 percent to ¥179,000, also on a decline in the number of its customers.  KDDI, on the other hand, added 0.3 percent to ¥729,000 on a gain of tens of thousands of customers.

An upgraded target share price from Deutsche Bank sent property developer Tokyo Tatemono 1.9 percent higher to ¥1,396.

 

 

 

Stories related to: Nikkei gains 0.3 percent on session

 

 

Visited 505 times, 1 so far today