Friday, December 15, 2006

Securities sector higher in Tokyo

by Elaine Frei

After a new Tankan report on business sentiment from the Bank of Japan came out about as expected, the Tokyo equities markets were up on Friday.  The Nikkei 225 added 0.5 percent to 16,914.31, while the Topix index gained 0.3 percent to 1,657.40.  Even though the Tankan figures were seen as positive, analysts are still convinced that the Bank will decline to raise interest rates when it meets next week.

In the tobacco sector, Japan Tobacco was 3.1 percent higher to ¥597,000 after it said it is talking to UK company Gallaher about a purchase.

The electronics sector added 0.5 percent as a whole, and Sony gained 1.6 percent to ¥5,050.

Domestically, the retail sector was up 0.4 percent, while Japan’s largest retailer, Aeon, was 1 percent higher to ¥2,575.

The securities sector also saw gains.  Nomura Holdings added 1.2 percent to ¥2,165, while Daiwa Securities Group was up 1.4 percent to ¥1,336.

Transport sectors were driven lower by an increase in crude oil prices.  Domestic airline All Nippon Airways dropped 0.9 percent to ¥433.  Among shippers, Mitsui OSK was 0.5 percent lower to ¥1,110 and Nippon Yusen fell 1.1 percent to ¥847.

The rise in oil prices was good news for Inpex, however, which added 2.1 percent on the session to ¥1,010,000.

 

 

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