Japan Hot Stocks-Tokyo Electron, Fast Retailing
Reuters, 04.18.02, 2:00 AM ET
forbes.com
TOKYO, April 18 (Reuters) - The following stocks are on the move on Thursday. **TOKYO ELECTRON <8035.T> DOWN ON PROFIT-TAKING**
Tokyo Electron Ltd, a manufacturer of chip-making equipment, down 80 yen or 0.82 percent at 9,680 on profit-taking.
Tokyo Electron played a part in the market's strong run earlier this week. It had risen 13 percent in the past three sessions on the back of upbeat U.S. tech earnings.
Nikko Salomon Smith Barney on Thursday raised its rating on the stock to "1H", expecting it to outperform the TOPIX <.TOPX> by more than 25 percent in 12 to 18 months, from "2H". 0550 GMT **FAST RETAILING <9983.T> UP ON BULLISH ANALYST COMMENTS**
Fast Retailing Co Ltd, Japan's top casual-wear retailer, up 300 yen or 8.52 percent at 3,820.
Comments by JP Morgan analyst Kenji Tsukazawa quoted in Thursday's Nikkei Financial Daily newspaper that the stock has the potential to rise 50 percent from its current level sparked buying, analysts said.
The paper said Tsukazawa declined to say why he is so bullish but that the stock has already hit a floor. |
