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Nikkei Ends Higher, TOPIX Lower as Asia Country Benchmarks Set New Highs; Nintendo Hits Y70,000

October 16th, 2007 · No Comments

Japan market summary for Monday (Oct. 15)
Nikkei 225 Stock Average: +26.98 (+0.2%) to 17,358.15
Nikkei 225 futures Osaka: +60 (+0.4%) to 17,400, Singapore (SGX) +50 (+0.3%) to 17,400, Chicago (CME) *10/12 +110 (+0.6%) to 17,510
TOPIX: -2.04 (0.1%) to 1,657.44; Advancers 859 x decliners 728 (unch. 137), New highs 37 x new lows 21
Jasdaq: +1.36 (+0.1%) to 1,904.47
Yen: weakened 0.3% against the US$ to the 117.70 level late in Tokyo; weakened 0.6% against the euro to 167.35 level


Notes: After an extended rally there was some limited profit-taking among the emerging stock indices MOTHERS and HERCULES, -1.6% and -0.8%, respectively. All the action was overseas as Shanghai, Hong Kong and India all climbed to new all-time highs. That is, except for the amazing story of Nintendo (JP: 7974) (NTDOY.PK), which gained 5.3% to Y71,300, trading over Y70,000 for the first-time and obviously setting yet another all-time high. A month ago Nintendo was at Y55,000. Its market cap is now over Y10 trillion. Only Mitsubishi UFJ Financial Group (JP: 8306) (MTU) and Toyota (JP: 7203) (ADR: TM) are larger than Nintendo now. And it’s possible Nintendo’s mc could double Sony’s (JP: 6758) (SNE) in the near future.

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Read more on Nikkei 225, Nintendo, Tokyo Stock Price Index - TOPIX at Wikinvest

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