TOKYO, Dec. 4 (Kyodo) — Tokyo stocks closed higher Thursday supported by optimism about export-oriented high-tech and automaker sectors.<\/p>\n
The 225-issue Nikkei Stock Average gained 103.60 points, or 1.00%, to close at 10,429.99. The broader Tokyo Stock Price Index (TOPIX) of all First Section issues on the Tokyo Stock Exchange (TSE) added 7.36 points, or 0.72%, to 1,023.43.<\/p>\n
Despite a firmer yen against the U.S. dollar, investors snapped up digital machinery-related issues and automakers amid hopes for upbeat performances, brokers said. The dollar traded in the lower 108 yen range, down from the upper 108 yen range Wednesday in Tokyo.<\/p>\n
”Investors likely snapped up automaker shares encouraged by recent strong sales data and digital-machinery related issues on expectations of strong sales during the Christmas shopping season,” said Norihiro Fujito, a senior investment strategist at Mitsubishi Securities Co.<\/p>\n
Canon rose 130 yen to 5,180 yen and Toshiba climbed 11 yen to 420 yen as investors welcomed a news report that Canon will enter the market for flat-screen televisions by producing next-generation display panels through a joint venture with Toshiba.<\/p>\n
Investors also snapped up shares of Toshiba, encouraged by the company’s announcement Wednesday that it will increase production capacity for flash memory chips a year ahead of schedule at its plant in Yokkaichi, Mie Prefecture.<\/p>\n
Toyota Motor advanced 70 yen to 3,450 yen and Nissan Motor rose 9 yen to 1,280 yen.<\/p>\n
Stocks mostly moved within a narrow range during the day’s session as investors waited for further market-moving incentives, including U.S. employment data to be released Friday, brokers said.<\/p>\n
Buying by foreign investors, following the end of U.S. hedge funds’ November book-closing, also helped buoy the market, they said.<\/p>\n
Insurance, rubber product, transport equipment and marine transport issues were among the main gainers, while airline, construction and retailing shares were among the notable decliners.<\/p>\n
Shares of consumer finance, credit and leasing firms also drew selling as investors continued to unload such shares as Tuesday’s arrest of the chairman of Takefuji Corp., the leader in consumer finance, continued to dampen investor sentiment.<\/p>\n
The day’s volume leader was Sumitomo Metal Industries, up 1 yen to 100 yen.<\/p>\n
Softbank was the most heavily traded issue by value, down 20 yen to 4,400 yen.<\/p>\n
Meanwhile, trading house Mitsui & Co. gained 25 yen to 780 yen and Sumitomo added 12 yen to 736 yen as investor sentiment was warmed by a news report that the trading houses have obtained an order worth $265 million for the delivery of steel pipes for a section of an undersea gas pipeline project between Norway and Britain.<\/p>\n
Volume on the TSE’s main section shrank to 1,337.63 million shares from Wednesday’s 1,503.99 million shares.<\/p>\n
Advancing issues outpaced decliners 750 to 636, with 146 issues closing unchanged.<\/p>\n
The TSE’s Second Section index rose 5.14 points, or 0.25%, to 2,089.54 on a volume of 24.94 million shares. In Osaka, the near-term December Nikkei 225 index futures contract advanced 100 points to 10,430.<\/p>\n","protected":false},"excerpt":{"rendered":"
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