Tokyo stocks rise as Greece-debt fears ease, commodities rise (3)

17:54, April 12, 2010      

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Among trading houses, Mitsubishi Corp. gained 1.6 percent to 2, 480 yen, Mitsui & Co. climbed 2.4 percent to 1,650 yen and Itochu Corp. rose 4.4 percent to 884 yen after Morgan Stanley raised its price estimate by 17 percent to 1,050 yen.

JX Holdings Inc., formed through the merger of Nippon Oil Corp. and Nippon Mining Holdings Inc., which indirectly owns two-thirds of Pan Pacific Copper Co., Japan's biggest copper smelter, increased 2.7 percent to 535 yen.

Mitsui Mining & Smelting Co. Ltd. gained 0.73 percent to 274 yen and Pacific Metals Co. Ltd. rose 0.62 percent to 812 yen.

However online broker Matsui Securities fell after Credit Suisse downgraded the firm to "underperform" from "neutral" and cut the target price for the shares to 640 yen from 760 yen. Matsui Securities fell 1.5 percent to 721 yen.

A particular bright spot on Monday's Nikkei was Oki Electric Industry Co. Ltd. surging 8.14 percent to 93 yen.

Some 2.18 billion shares changed hands on the Tokyo exchange's first section, in line with levels seen on Friday.

Advancing shares outnumbered declining ones by more than 1,041 to 495.

Source: Xinhua
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