Nikkei rises to 3-month closing high on automakers, tech-shares gain
Nikkei rises to 3-month closing high on automakers, tech-shares gain
20:50, December 22, 2009 
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Rising stocks drove Japan's 225-issue Nikkei Stock Average to a three-month closing high on Tuesday as investor appetite for tech-related and automaker sharesgrew as the yen weakened.
Japan's key benchmark Nikkei gained 194.56 points, or 1.91 percent, from Monday to 10.378.03, its highest close since Sept. 24.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 1.3 percent to 903.06.
Technology-related shares in Japan added to gains made on Monday on the back of positive earnings reports from high-tech U.S. tech-manufacturers, with Elpida Memory Inc. climbing 4.6 percent to 1,387 yen and Advantest Corp. surging 4.5 percent to 2,335 yen.
The world's second largest semiconductor equipment maker Tokyo Electron Ltd. gained 3.8 percent to 5,730 yen, following reports in the Nikkei business daily newspaper saying demand is rebounding.
Sony Corp., Japan's largest exporter of televisions, rose 2.7 percent to 2,650 yen, whilst rival Sharp Corp. added 2.88 percent to 1,142 yen. Toshiba Corp., shot up 4.7 percent to 518 yen, following news that partner Sandisk Corp. will jointly invest 150 billion yen (1.7 billion U.S. dollars) to bolster production capacity by 40 percent, sources close to the matter said.
Mobile and industrial electronics equipment maker SPC Electronics Corp. soared 26.7 percent to 114 yen, following news that Mitsubishi Electric Corp. is planning to make SPC ElectronicsCorp. a fully owned subsidiary through share allocation.
With the dollar being traded in the lower 91-yen range Tuesday morning, export-related issues were buoyed as overseas profits shrink as the yen strengthens.
The Japanese automaker sector significantly contributed to the market's rise Tuesday with Toyota Motor Corp., the world's biggest carmaker, climbing 2.15 percent to 3,800 yen and Honda Motor Co. Ltd. gaining 1.99 percent to 3,080 yen. Suzuki Motor Corp. advanced 2.10 percent to 2,185 yen and Mazda Motor Corp. edged up 0.47 percent to 213 yen.
Isuzu Motors Ltd., however, accelerated 6.8 percent to 172 yen, after Isuzu President Susumu Hosoi said the truck maker is considering a proposal made by General Motors to design and develop a new generation of diesel engine for the U.S. automaker. Isuzu was one of one of the Nikkei's notable gainers on Tuesday.
Hino Motors Ltd., predominantly known for the manufacturing of heavy-duty trucks, also rose 2.30 percent to 315 yen at the close of play on Tuesday.
Investor jitters still remain about further equity financing in the banking sector following Thursday's news that The Basel Committee of bank regulators will impose stricter rules on banks to meet financing requirements.
Commercial and diversified banking shares ended mixed on Tuesday with Sumitomo Mitsui Financial Group Inc. shedding 0.18 percent to close down at 2,835 and commercial bank Sumitomo Trust and Banking Co. Ltd. losing 0.44 percent to 451 yen.
Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. both closed flat at 473 yen and 451 yen respectively at the 3p.m. bell.
In the air transport sector, cash-strapped carrier Japan Airlines Corp. closed flat at 101 yen Tuesday, as the government said promises of a bailout were not set in stone, leaving investors with no tangible cues. Rival All Nippon Airways Co. Ltd. retreated 0.39 percent to 255 yen at the close of trade.
Trade was moderate on the Tokyo exchange's First section, with some 2.2 billion shares changing hands, slightly above last week's daily average of 2.1 billion shares.
Advancing issues outnumbered declining ones by 2 to 1.
Source:Xinhua
Japan's key benchmark Nikkei gained 194.56 points, or 1.91 percent, from Monday to 10.378.03, its highest close since Sept. 24.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 1.3 percent to 903.06.
Technology-related shares in Japan added to gains made on Monday on the back of positive earnings reports from high-tech U.S. tech-manufacturers, with Elpida Memory Inc. climbing 4.6 percent to 1,387 yen and Advantest Corp. surging 4.5 percent to 2,335 yen.
The world's second largest semiconductor equipment maker Tokyo Electron Ltd. gained 3.8 percent to 5,730 yen, following reports in the Nikkei business daily newspaper saying demand is rebounding.
Sony Corp., Japan's largest exporter of televisions, rose 2.7 percent to 2,650 yen, whilst rival Sharp Corp. added 2.88 percent to 1,142 yen. Toshiba Corp., shot up 4.7 percent to 518 yen, following news that partner Sandisk Corp. will jointly invest 150 billion yen (1.7 billion U.S. dollars) to bolster production capacity by 40 percent, sources close to the matter said.
Mobile and industrial electronics equipment maker SPC Electronics Corp. soared 26.7 percent to 114 yen, following news that Mitsubishi Electric Corp. is planning to make SPC ElectronicsCorp. a fully owned subsidiary through share allocation.
With the dollar being traded in the lower 91-yen range Tuesday morning, export-related issues were buoyed as overseas profits shrink as the yen strengthens.
The Japanese automaker sector significantly contributed to the market's rise Tuesday with Toyota Motor Corp., the world's biggest carmaker, climbing 2.15 percent to 3,800 yen and Honda Motor Co. Ltd. gaining 1.99 percent to 3,080 yen. Suzuki Motor Corp. advanced 2.10 percent to 2,185 yen and Mazda Motor Corp. edged up 0.47 percent to 213 yen.
Isuzu Motors Ltd., however, accelerated 6.8 percent to 172 yen, after Isuzu President Susumu Hosoi said the truck maker is considering a proposal made by General Motors to design and develop a new generation of diesel engine for the U.S. automaker. Isuzu was one of one of the Nikkei's notable gainers on Tuesday.
Hino Motors Ltd., predominantly known for the manufacturing of heavy-duty trucks, also rose 2.30 percent to 315 yen at the close of play on Tuesday.
Investor jitters still remain about further equity financing in the banking sector following Thursday's news that The Basel Committee of bank regulators will impose stricter rules on banks to meet financing requirements.
Commercial and diversified banking shares ended mixed on Tuesday with Sumitomo Mitsui Financial Group Inc. shedding 0.18 percent to close down at 2,835 and commercial bank Sumitomo Trust and Banking Co. Ltd. losing 0.44 percent to 451 yen.
Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. both closed flat at 473 yen and 451 yen respectively at the 3p.m. bell.
In the air transport sector, cash-strapped carrier Japan Airlines Corp. closed flat at 101 yen Tuesday, as the government said promises of a bailout were not set in stone, leaving investors with no tangible cues. Rival All Nippon Airways Co. Ltd. retreated 0.39 percent to 255 yen at the close of trade.
Trade was moderate on the Tokyo exchange's First section, with some 2.2 billion shares changing hands, slightly above last week's daily average of 2.1 billion shares.
Advancing issues outnumbered declining ones by 2 to 1.
Source:Xinhua
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