| Japan Market Update Archive: |
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Ship Liners Drop, Commodities Rise
Aug 20, 2:28 PM ET |
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| Kumagai Gumi Co led advancers in the Nikkei 225 index shares with a rise of 7% followed by increases in GS Yuasa Corp. of 4.6%. |
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| Stocks in Tokyo fell as traders could not shake off persistent worries related to the health of the U.S. financial companies. Lehman Brothers may be forced to sell assets and mark down financial assets of $4 billion in its upcoming earnings scheduled next week. Shippers in Asia and in Japan fell after the freight rate index fell. Slower demand in the U.S. is likely to force Toyota to lower its unit sales target to 9.5 million. |
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Rates on Hold in Japan
Aug 19, 11:05 AM ET |
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| Japanese exporters declined on media speculation that the U.S. may bail out Freddie and Fannie and wipe out current shareholders. |
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| Stocks in Japan plunged on resurgent credit worries after media speculation that if the U.S Treasury bails out troubled mortgage lenders Freddie Mac and Fannie Mae, shareholders may be wiped out. The Bank of Japan left its key rate unchanged at 0.5%. Domestic related stocks gained as investors sought a haven from shares that are exposed to deteriorating global conditions. JGC led advancers in the Nikkei index with a rise of 3.3% followed by gains in Yahoo Japan and Citizen Holdings. |
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Wages Edge Higher, Realtors Rebound
Aug 18, 7:00 PM ET |
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| Central Japan Railway is offering to pay 370 yen per share to increase its stake in Nippon Sharyo to 50.1% from 1.8%. |
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| Japan benchmark index increased on rising commodity stocks after Mitsubishi UFJ Securities upgraded rating on Sumitomo Metal Industries. Investors sought property developers stocks after a recent sell-off sparked by Urban Corp bankruptcy last week. In Tokyo trading Nikkei 225 rose 1.12% to 13,165.45, and the broader Topix Index jumped 1.3% to 1,263.75. Total wages increased 0.4% to 467,938 yen in June, and contractual cash earnings gained 0.2% to 270,712 yen. |
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Tokyo Stocks Rise 1.1%
Aug 15, 3:57 PM ET |
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| Financials, shippers and chipmakers rallied in today's trading. Realtors rebounded a day after the developer Urban Corp. |
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| Stocks in Japan rose fractionally and for the week added 1.1%. The cost of non-performing loans disposal rose by 70% at the end of the quarter in June. Shipping companies rebounded for the second day in a row after the freight rate index closed higher. The index had fallen 40% from its peak in May and climbed 6% for the week. Chipmakers rallied on the speculation that Seagate Technology Inc may be interested in SanDisk Corp. |
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Shippers Rebound, Urban Files Bankruptcy
Aug 14, 6:06 PM ET |
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| Kawasaki Kisen Kaisha and Mitsui O.S.K jumped more than 4% after the ocean freight rate index rebounded. |
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| Urban Corp, one of the leading listed real estate developers in Japan filed for a court protection. The filing spurred concerns among banks and other real estate management funds of losses. K.K. DaVinci, largest real estate manager in Japan dropped 11% and Kansai Urban declined 8% to a five-year low. NTT Urban declied 4% as well. Separately, Baltic Dry Index rose 1.5% after dropping for a month as crude oil traded higher and demand for ocean freight remained stable. |
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Japan GDP Contracts, Stocks Fall
Aug 13, 5:01 PM ET |
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| GDP in Japan fell at 2.4% in the first fiscal quarter ending in June. IHI Corp led the gainers in the Nikkei 225 index. |
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| Stocks in Japan fell 2% after economy contracted at the end of the first fiscal quarter and current account surplus fell. Exports declined in the quarter along with the rising food and energy prices kept consumer spending in check. GDP in the quarter to June contracted at 2.4% as exports fell 2.3% and imports declined 2.8% with the consumer spending weakening by 0.5%. Mitsubishi UFJ commences its tender offer to acquire UnionBanCal and may have to raise it above the current $3 billion offer. |
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Stocks Rise 2%, Commodites Fall
Aug 11, 5:38 PM ET |
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| Stocks in Japan rose on higher closing in the U.S. Commodities related stocks fell after the fall of metal and crude oil prices. |
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| A fall in crude oil price in the region and higher close in New York on Friday lifted market sentiment in Tokyo. Benchmark index added 2% on active trading. Bankruptcies in Japan rose 13% in July on tighter lending conditions and net properties purchased by real estate trusts fell 50% to 94 in the first half of this year. Hitachi Zosen led advancers with a rise of 12% and Itochu led decliners with a loss of 4%. |
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Inpex Profit Surges, Toyota Outlook Unrevised
Aug 08, 5:59 PM ET |
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| Optimism drove stock benchmarket indexes marginally higher. Toyota left its annual revenue and earnings outlook unrevised. |
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| Stocks in Japan edged higher for the day and for the week as crude oil drops and investors set aside worries of earnings of export companies. Toyota Motor reported a decline in earnings but left its annual earnings outlook unrevised. The oil refiner, Inpex Holdings net profit for the first quarter rose 29% from a year ago to 49 billion yen on 41% rise in sales. Shipping carriers fell more than 4% for the second day in a row after a drop in freight rate index. |
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Kubota Rises, Tokyo Stocks Fall
Aug 07, 5:00 PM ET |
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| Stocks in Japan fell after financial companies report a decline in profit. Chuo Mitsui Trust porfit fell 52%. JAL loss declined. |
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| Stocks in Japan fell as worries related to banking sector earnings rose. Losses at financial institutions in Japan increased above 1 trillion yen and are likely to climb higher. Chuo Mitsui Trust Holding first quarter profit fell 52%. Machinery order in June rose. Kubota first quarter revenue fell 2.5% and earnings declined 16.5%. JAL net loss in the quarter shrank to 3.4 billion yen. |
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Tokyo Follows U.S. Gains
Aug 06, 3:58 PM ET |
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| Stocks inJapan rose following a rise in the U.S. market. Mitsubishi UFJ reported a drop in earnings of 66% from a year ago. |
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| Stocks in Tokyo rallied tracking the gains in the U.S. markets. Benchmark index rose 2.6% and broader index gained 2.4% on the hopes that exports to the U.S. will be sustained. Mitsubishi UFJ first quarter earnings fell 66% from a year ago to 51 billion and total net assets dropped 3% to 9.3 trillion. Sony agreed to acquire 50% stake in the joint venture Sony BMG that it does not own for $900 million and cash in the balance sheet of the venture. |
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