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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Return to Sender who wrote (9527)	4/21/2003 3:31:27 AM
From: StanX Long	Read Replies (2) \| Respond to of 95501

Tokyo Stocks Up, Low-Priced Issues Lead story.news.yahoo.com TOKYO (Reuters) - Japanese stocks edged up in late afternoon trade on Monday, led by gains in low-priced issues such as Mitsui Mining Co Ltd, but trade was subdued ahead of a glut of earnings reports from blue-chip firms. With foreigners on holiday and domestic institutions taking a wait-and-see attitude before Japan's annual reporting season gets into full swing later this week, investors played safe with low-priced issues, analysts said. As of 0520 GMT, the Nikkei average was up 1.23 percent or 96.68 points at 7,971.19, extending a rise of 0.67 percent on Friday. The capital-weighted TOPIX index of all first section issues was up 1.30 percent at 801.02. Mitsui Mining, a natural resource development firm, was up 28.38 percent at 95 yen, extending Friday's 30 percent rally sparked by a Tachibana Securities report forecasting Mitsui would score higher profits in 2003/04 due to a rise in the price of coke, a coal residue used as fuel. But Sony Corp (news - web sites), the world's biggest consumer electronics maker, was down 0.52 percent at 3,860 yen, nearing a four-year low of 3,750 yen marked on April 11. Sony is set to report earnings on Thursday. "Investors are well aware that the market will eventually turnaround from the current low levels," said Masanori Hoshina, head of global portfolio trading and marketing at BNP Paribas. "But they're quite wise to refrain from buying now. I don't think it's worth catching a falling knife," Hoshina said, referring to the potential for further risk in equities. Computer and chip maker NEC Corp, which also unveils results for the year that ended in March on Thursday, was down 0.85 percent at 348 yen. Nissan Motor Co, expected to reveal another record-setting result on Wednesday when Japan's third-biggest automaker announces preliminary figures, was up 2.16 percent at 900 yen. Investors said the absence of many foreign players due to the Easter holiday had poured more cold water on a market already searching for incentives to buy or sell major firms. "From the end of last week we have been seeing extremely low volatility levels from a historical standpoint," said Koichi Ogawa, chief portfolio manager at Daiwa SB Investments. "There aren't many major reasons out there to buy, but there also aren't many aggressive sellers." All eyes will be on the 2002/03 forecasts, particularly on electronics firms that have been increasingly moving production to Asia and are vulnerable to a rise in the yen, market players said. The results, including heavy shareholding losses, have largely been factored in, except for some negative surprises recently such as Capcom Co Ltd, they said. Capcom, a game software maker known for its popular "Devil May Cry" game series, remained ask-only at 1,130 yen in late afternoon trade, down by its daily 200 yen limit. On Friday, Capcom extended its loss forecast for 2002/03 due partly to a special loss of five billion yen ($41.78 million) after it had stopped developing 18 of around 100 new games. ($1=119.67 yen)