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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up?
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To: borb who started this subject10/27/2003 7:43:03 AM
From: Julius Wong  Read Replies (1) of 3902
 
Japan's Stocks Rise as Taisei, Obayashi Gain; Toshiba Declines

Oct. 27 (Bloomberg) -- Japanese stocks rose for a second day, led by construction companies, after Taisei Corp. and Obayashi Corp. reported fiscal first-half profits citing lower production costs.

``Money is chasing companies coming out with some positive news,'' said Yoshinobu Muraoka, at DL-IBJ Asset Management Co. in Tokyo, which manages the equivalent of $46 billion in assets. ``Domestic-oriented stocks are starting to attract more money as they improve their businesses on signs of a growing economy.''

The Nikkei 225 Stock Average gained 118.42, or 1.2 percent, to 10,454.12 at the 3 p.m. close in Tokyo. The Topix index added 7.89, or 0.8 percent, to 1032.88, with construction companies contributing the most.

quote.bloomberg.com
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