Tokyo Stocks Weak; Sony Launches Daily Edition

123jump.com Staff
25 Aug, 2009
New York City

Stocks in Tokyo declined after surging more than 3% in the previous session. In weak trading resource stocks, exporters and trading companies and automakers closed lower. Sony released electronic book reader with access to one million titles.

[R]9:00 PM Tokyo – Stocks in Tokyo declined after surging more than 3% in the previous session. In weak trading resource stocks, exporters and trading companies and automakers closed lower.[/R]

The Nikkei 225 Index in Tokyo closed lower 83.69 or 0.79% to 10,497.36 and the yen closed at 94.17 for a dollar.

Of the stocks in the index, 52 increased, 158 decreased and 15 were unchanged.

Japanese markets are awaiting the release of home price index and consumer confidence data in the U.S.

Gainers & Losers

Automakers closed lower. Honda Motor decreased 2% to 2,990 yen, Nissan Motor decreased 1.6% to 678 yen and Toyota Motor declined 0.5% to 4,050 yen. Mazda Motor Corp decreased 1.5% to 264 yen.

NGK Insulators increased 3.7% to 2,270 yen after the company was awarded 60 billion yen contract to supply rechargeable batteries in UAE according to Nikkei newspaper.

Sony Corp decreased 0.2% to 2,515 yen and the company released electronic-book reader Daily Edition. Sony plans to sell the reader for $399 in December. Sony has put together one million titles competing with 320,000 titles available for Kindle from Amazon.com.

Nikkei 200 Average Movers

Alps Electric Co Ltd led the decliners in the Nikkei 225 index of 3.5% followed by losses in Daiwa Securities Group Inc of 3.1%, in Dentsu Inc of 2.9%, in Fujikura Ltd of 2.9% and in Nippon Meat Packers Inc of 2.7%.

Pioneer Corp led gainers in the Nikkei 225 index with a rise of 11.7% followed by gains in Denki Kagaku Kogyo K K of 7.6%, in Hino Motors Ltd of 4.7% and in Tosoh Corp of 4.2%.

Asian Markets Review

The Nikkei 225 Index in Tokyo closed lower 83.69 or 0.79% to 10,497.36, Hang Seng index in Hong Kong decreased 100.70 or 0.49% to 20,435.24 and CSI 300 index in China lower 119.77 or 3.71% to 3,109.83. ASX 200 index in Australia decreased 20.30 or 0.46% to 4,405.80. The FTSE Bursa KL Composite index in Malaysia closed lower 3.40 or 0.29% to 1,171.09.

The Kospi Index in South Korea decreased 10.84 or 0.67% to close at 1,601.38. SET index in Thailand closed higher 2.26 or 0.35% to 655.46 and JSE Index in Indonesia increased 4.65 or 0.20% to 2,380.52. The Sensex index in India increased 59.72 or 0.38% to 15,688.47.