Tokyo shares mixed amid directionless trading
By Bayan Rahman in Tokyo
Published: March 10 2002 21:44 | Last Updated: March 11 2002 02:55
news.ft.com
Tokyo shares were mixed on Monday, with most stocks failing to find inspiration from gains in US equities, though some technology issues rose after the Nasdaq stock market rallied last week.
The Nikkei 225 stock average fell 53.63, or 0.5 per cent, to end the mid-session at 11,832.16, but the broader Topix index gained 4.72, or 0.4 per cent, to 1,112.85.
The market lacked a clear direction after a four-day rally last week lost steam, although a 2.6 per cent gain in the Nasdaq stock market sparked gains in some technology stocks.
Softbank surged 14.2 per cent to Y2,740, buoyed by gains in companies listed on the Nasdaq in which it has investments.
Fujitsu, the electronics and semiconductor maker, rose 4.2 per cent to 1,067 on gains in US counterparts and expectations of a recovery in the US economy after unemployment fell to 5.5 per cent.
The strong yen hit some carmakers heavily reliant on exports, particularly Honda Motor, which fell 2.5 per cent to Y5,380, and Nissan Motor, which dropped 3 per cent to Y805. The yen traded at Y128.90 against the dollar, up from Y132.14 last Monday. |
