The Nikkei 225 Stock Average rose 0.46% to 17,452.62 (range: 17,404.62 – 17,502.02), unable to regain/hold the psychologically important level of 17,500. It was the third lightest trading day of the year, but buying of N225 futures after yesterday’s drop (despite an overall lack of bullishness and only a 0.1% gain to 17,410 (range: 17,410 – 17,530), finishing about 40 points below the benchmark), a rebound in Asian stocks and the yen, which weakened about 0.6% to 118.7 against the U.S. dollar, all helped the Nikkei close in positive territory. TOPIX 1st Section gained 0.18% to 1,710.07 (range: 1,703.21 – 1,714.54) as decliners actually outnumbered advancers 676 x 915 (139 unchanged). TOPIX 2nd Section fell for a 7th straight day, matching a losing streak last November. JASDAQ fell 1.1% to 79.36 (range: 79.19 – 80.22), continuing its funk (also seven straight down sessions). Kyocera (JP: 6971) (KYO) +0.96% to Ą11,520 and TDK (TDK) +1.18% to Ą10,260, seem to remain in favor, despite recent volatility, as we suggested in an earlier post.
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Browsing Posts published on April 20, 2007
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The Economist (Apr. 14 – 20, p. 73-4) has a good story on Softbank (JP: 9984) (SFTBF.PK). The main point of the article is Softbank is bleeding cash, serious cash and there doesn’t appear to be an end in sight. It is attracting a lot of news these days because of its very aggressive pricing and marketing in the cellular phone business it picked up from Vodafone (VOD) — boy are they glad they got out. Anyway, the real winner among wireless communications service providers is KDDI (JP: 9433), which is growing both its subscriber base and revenue per sub. It also seems to be benefiting most from number portability, taking incremental market share from leader NTT DoCoMo (JP: 9437) (DCM). Let’s be fair and try to make some money here.
