Tokyo stocks fall amid political uncertainty, yen weighs (3)

19:40, June 01, 2010      

Email | Print | Subscribe | Comments | Forum 

The yen appreciated to 110.68, compared with 112.60 against the euro at the close of stock trading in Tokyo on Monday. Against the dollar the yen strengthened to as much as 90.89 from 91.52.

Exporters lose competitiveness overseas when the yen is strong and profits are eroded when repatriated.

Subsequently, Sony Corp fell nearly 1 percent to 2,788 yen and Kyocera Corp. dropped 1 percent to 7,850 yen.

Toyota lost 0.5 percent to 3,265 yen while Nissan retreated more than 1 percent to 655 yen.

Hitachi Ltd. fell 3.5 percent to 359 yen following President Hiroaki Nakanishi saying that various parts of the company are being adversely affected by financial confusion in Europe. Nakanishi in an interview with the Financial Times said that financing problems were delaying a deal to supply U.K. railway rolling stock and the company's coal-fired power station projects in Europe.

Financial issues advanced as the stock is being viewed as relatively cheap compared to earnings prospects and Mitsubishi UFJ Financial Group Inc. gained 1.1 percent to 446 yen and Sumitomo Mitsui Financial Group Inc. advanced 1.2 percent to 2,734 yen. Mizuho Financial Group Inc., Japan's third megabank, edged up 0.6 percent to 165 yen.

Some 1.63 billion shares changed hands on the Tokyo exchange's First section, down from Monday's volume of 1.75 billion shares.

Declining issues outnumbered advancing ones by 820 to 701.

Source: Xinhua
【1】 【2】 【3】

(Editor:燕勐)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • A ceremony is held in Taipei, southeast China's Taiwan, on Sept. 28, 2011, to commemorate the 2,562nd birthday of Confucius (551-479 BC), a Chinese thinker, educationist and philosopher. (Xinhua/Wu Ching-teng)
  • The world's first Boeing 787 Dreamliner for delivery arrives at Haneda airport in Tokyo, capital of Japan, on Sept. 28, 2011. The Boeing 787 Dreamliner, whose buyer is All Nippon Airways (ANA), will implement a flight of ANA on Oct. 26 from Tokyo's Narita Airport to Hong Kong in south China. (Xinhua/Ji Chunpeng)
  • A Libyan National Transitional Council (NTC) fighter shows what is believed to be human jawbone found inside a mass grave near Abu Salim prison in Tripoli, Libya, Spet. 27, 2011. The NTC on Sunday said they had found a mass grave containing the bodies of 1,270 people killed by Gaddafi's security forces in a 1996 massacre at Abu Salim prison in southern Tripoli. (Xinhua/Li Muzi)
  • Rescue workers and local residents search for survivors after a building collapsed in old Delhi, India, Sept. 27, 2011. At least 10 people were killed and 35 injured when an old three-storey building collapsed. More than a dozen people are still feared trapped under the debris, police said. (Xinhua/Partha Sarkar)
  • A visitor has flying experience in the windmill castle of Jinshitan National Holiday resort in Dalian, northeast China's Liaoning Province, Sept. 27, 2011. The castle is a 23-meter-high building with 21 meters in diameter. The castle uses wind tunnel to make objects floating in the air. It is the first indoor stadium in China, which enables people to have flying experience. (Xinhua/Zhang Chunlei)
  • Forces of the Libyan National Transitional Council (NTC) shoot shells to the fighters loyal to Muammar Gaddafi outside Bani Walid, Libya, Sept. 27, 2011. Bani Walid is still occupied by fighters loyal to Muammar Gaddafi. (Xinhua/Hamza Turkia)
Hot Forum Discussion