Asian Economic News
Lower Open Anticipated For Tokyo Shares
11/18/2009 5:35 PM ET
(RTTNews) -
Japan stocks are expected to move lower at Thursday's open. Wall Street provided a weak lead, as U.S. markets were spooked by disappointing data on housing starts and higher than expected inflation figures.
The Tokyo market moved lower in heavy trading on Wednesday.
The benchmark Nikkei 225 Average fell 53.13 points or 0.55 percent to 9,676.80.
Among the Nikkei component stocks, there were 67 closing higher, 146 were lower and 12 finished unchanged.
The Topix index of all issues listed on the Tokyo Stock Exchange First Section was down 6.94 points or 0.8 percent at 850.06.
The financial sector was weak. Among the major banks, Mitsubishi UFJ was down 3 yen or 0.62 percent, Mizuho Financial dropped 55 yen or 2.94 percent, Sumitomo Mitsui was down 180 yen or 5.94 percent and Resona Holdings was down 37 yen or 3.70 percent.
In the real estate sector, Mitsui Fudosan fell 55 yen or 3.79 percent and Mitsubishi Estate declined 62 yen or 4.53 percent.
Electronics maker Toshiba managed a gain of 8 yen or 1.75 percent, Sony was unchanged and Canon fell 10 yen or 0.29 percent.
Shares of Japan Air Lines were down 4 yen or 3.92 percent while rival All Nippon Airways was unchanged.
In overseas trading, Wall Street moved broadly lower on Wednesday. The Dow Jones Industrial Average closed down 11.11 points or 0.11 percent at 10,426.23, the Nasdaq Composite Index was down 10.64 points or 0.48 percent at 2,193.14 and the Standard & Poor's 500 index was down 0.52 point or 0.05 percent at 1,109.80.
Other Asia/Pacific region markets were mixed on Wednesday.
Hong Kong's Hang Seng index was down 73.82 points or 0.32 percent at 22,840.33.
In China, the Shanghai Composite index was up 20.34 points or 0.62 percent at 3,303.23.
India's SENSEX/BSE 30 index declined 51.87 points or 0.30 percent to 16,998.78.
The Jakarta Composite index in Indonesia was up 10.44 points or 0.42 percent at 2,484.23.
In South Korea, the KOSPI/Seoul Composite index advanced 17.99 points or 1.13 percent to 1,603.97.
The Taiwan Weighted Index was up 33.48 points or 0.43 percent at 7,766.69.
by RTT Staff Writer
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