Thursday, November 30, 2006

Tokyo consumer finance sector sees big gains

by Elaine Frei

New data on the growth of the US economy helped the Tokyo equities markets to gains on Thursday.  Both export-focused and domestic stocks benefited.  The Nikkei 225 added 1.2 percent to 16,274.33, while the Topix index gained 1.5 percent to 1,603.03.  The Mothers index of small and mid-cap stocks did ever better, ending 2.5 percent higher to 1,152.81.

Domestically, the securities and consumer finance sectors were higher.  Consumer finance companies, which have had a bad year as the government made attempts to limit how much interest they can charge customers on loans, saw especially large gains.  Credit Saison gained 6.5 percent to ¥4,080, while Takefuji added 9.7 percent to ¥4,630 and Aiful jumped 10.8 percent to ¥3,700.

The securities sector was 3.6 percent higher as a whole.  Daiwa Securities was 3 percent higher to ¥1,327, while Nomura Holdings added 3.8 percent to ¥2,030 and Nikko Cordial gained 3.9 percent to ¥1,430.

With crude oil prices still rising, upstream oil company Inpex was 1.6 percent higher to ¥997,000.

Automobile manufacturers also managed advances.  Toyota added 1.3 percent to ¥7,020, while Honda Motor gained 2.2 percent to ¥4,100.  Meanwhile, construction machinery manufacturer Komatsu was 2.7 percent higher to ¥2,105.

 

 

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