Nikkei Volatile in Thin Trading, Airport Facilities Soars 16%

Hiruki Nakamura
19 Aug, 2013
New York City

Stocks in Tokyo traded sideways as investors looked ahead for more policy initiatives in the next few weeks. The yen traded volatile. The Nikkei index rebounded after 2-day losses. Airport Facilities soared on hopes government may establish a zone to promote smaller companies.

[R]4:30 PM Tokyo – Stocks in Tokyo traded sideways as investors looked ahead for more policy initiatives in the next few weeks. The yen traded volatile. The Nikkei index rebounded after 2-day losses. Airport Facilities soared on hopes government may establish a zone to promote smaller companies.[/R]

Stocks in Tokyo closed lower and the Nikkei index traded sideways and lacked direction as many traders stayed away on holidays and large investors took a wait-and-see attitude before the next policy direction from prime minister.

The Nikkei 225 Stock Average gained 108.02 or 0.8% to 13,758.13 and the Topix increased 6.48 to 1,149.13.

Trade deficit in July widened to 1.02 trillion yen from 993.9 billion yen in June. Exports climbed 12.2% and imports jumped 19.6%. The largest increase in the month from petroleum imports for more than 1 trillion yen.

The yen weakened to 97.53 against one dollar.

Stocks in Review

Toyota Motor Corp rose 30 yen to 6,320 yen and Honda Motor Co. added 10 yen to 3,800 yen. Nissan Motor Co Ltd lowered 4 yen to 1,031 yen.

Sony increased 12 yen to 1,975 yen and Softbank Corp jumped 150 yen to 6,320 yen.

Fast Retailing Co. gained 200 to 32,200 yen.

Airport Facilities Co., Ltd surged 15.7% to 738 yen after the Japanese government is considering to establish an industrial zone to promote small and medium size companies in animation and medical devices areas near Haneda Airport. The news was first reported in Sankei newspaper.

Fujitsu, Ltd rose 0.8% to 395 yen after the communication technology’s subsidiary Fujitsu Laboratories Limited decided to spin off its aptamer technology, a maker of artificial chemical substance.

Tokyo Electric Power decreased 3% to 622 yen after the operator of nuclear power plant said in a statement two workers were exposed to nuclear radiation after the radioactive dust alarm monitor kicked-off.