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Second India-Japan strategic dialogue on economic issues
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India-Brazil-South Africa to cooperate in health sector
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South Korea Gives US Beef The All Clear
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Indian government approves re-structured APDRP
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Restoration of Indo-Pak dialogue to push trade
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India-Brazil-South Africa to cooperate in health sector
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Fastest Growth for Thailand Economy in Six Quarters
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Taiwan Enjoy Expanded Trade Surplus
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Nikkei 225 addes 0.2 percent
by Elaine FreiWeakness in the yen helped the Tokyo equities markets to make gains on Thursday. However, advances were limited on the Nikkei because of a scandal in the consumer finance sector. The Nikkei 225 closed at 17,047.83, a gain of 0.2 percent, while the Topix index added 0.3 percent to 1,671.30.
Export-focused sectors were especially helped by the weak yen. Toyota added 1.7 percent to ¥7,680, while construction equipment manufacturer Komatsu gained 3.4 percent to ¥2,410.
The utilities sector also saw gains again, as the sector has gained 17.5 percent since the end of September on high dividend payments to shareholders. Tokyo Electric Power was 1 percent higher to ¥3,910 and Kansai Electric Power was up 1.6 percent to ¥3,260.
The steel sector advanced on positive comments from Merrill Lynch and on the possibility of further consolidation in the sector worldwide. Nippon Steel gained 0.5 percent to ¥601 on rumors that it will gain control of Brazilian steel company Usiminas. Meanwhile, Sumitomo Metal Industries added 4.9 percent to ¥493 on a Merrill Lynch upgrade from “neutral” to “buy”.
Consumer finance companies were affected by a 12-day business suspension of Sanyo Shinpan for improper practices. Shinpan dropped 5.5 percent to ¥3,260, while Aiful fell 5.1 percent to ¥3,360 and Credit Saison was 2.7 percent lower to ¥4,020.
In the securities sector, Nikko Cordial began a comeback after being fined for accounting irregularities, adding 7.1 percent to ¥1,237.
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