Tokyo Stocks Pare Losses, Exporters, Financials Lead Decliners

Hiruki Nakamura
22 Feb, 2013
New York City

Stocks in Tokyo traded rebounded after a day of sell-off and morning weakness. The yen eased but the makers of automobiles and electronics fell and financials led the decliners. Prime Minister Shinzo Abe is scheduled to hold a summit with the U.S. President Barack Obama.

[R]5:00 PM Tokyo – Stocks in Tokyo traded rebounded after a day of sell-off and morning weakness. The yen eased but the makers of automobiles and electronics fell and financials led the decliners. Prime Minister Shinzo Abe is scheduled to hold a summit with the U.S. President Barack Obama.[/R]

Stocks in Tokyo recovered from the losses and closed higher but exporters and financial sector stocks closed lower.

Investors were cautious ahead of the Japan-U.S. summit and, the Bank of Japan leadership nomination and general elections in Italy.

Exporters recovered and pared early losses but general sentiment for the currency was defensive.

The Nikkei 225 Stock Average gained 76.81 or 0.7% to 11,385.94 and the broader Topix Index added 0.62 to 963.48. For the week, the Nikkei climbed 1.9%.

The yen eased to 93.41 against one dollar.

Stocks in Review

Toyota Motor Corp. fell 35 yen to 4,730 yen and Honda Motor Co. slid 5 yen to 3,470 yen and Nissan Motor Co Ltd lowered 1 yen to 939 yen.

Mazda Motor Corp rose 3 yen to 271 yen. Yamaha Motor Co Ltd slipped 14 yen to 1,054 yen.

Nippon Steel down 1 yen to 248 yen and JFE Holdings Inc decreased 7 yen to 1,939 yen.

Sony declined 35 yen to 1,296. Canon Inc gained 10 yen to 3,315 yen and Nikon fell 5 yen to 2,117 yen. TDK Corp decreased 30 yen to 3,245 yen.

Nintendo Co. Ltd increased 30 yen to 8,900 yen. Dainippon Screen Manufacturing Co rose 4 yen to 475 yen.

Fanuc Corp. climbed 200 yen to 14,460 yen and Komatsu Ltd advanced 39 yen to 2,350 yen. Hitachi Construction Machinery Co increased 40 yen to 2,155 yen.

Softbank Corp jumped 35 yen to 3,345 yen.

FamilyMart Co Ltd, the convenience chain operator added 15 yen to 4,015 yen and Lawson gained 50 yen to 7,180 yen. Ito En Ltd advanced 18 yen to 1,870 yen.

Seven & I Holdings Co rose 8 yen to 2,797 yen. Fast Retailing Co. climbed 260 yen to 25,170 yen and J. Front Retailing Co. Ltd increased 8 yen to 558 yen.

Mitsubishi UFJ Financial Group fell 7 yen to 513 yen and Sumitomo Mitsui Financial Group slipped 25 yen to 3,695 yen. Dai-Ichi Life added 0.6% to 131,300 yen. Nomura Holdings, Inc slid 2 yen to 531 yen.