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NIKKEI Held Back by Tech Stocks
Business Brokerage by Randy Chen
On Sunday night the Nikkei respond very slowly to the recovery in the Dow, but after all, the Japanese stock market ended much lower than its intraday high.
Forex Broker Japan's NEKKEI average was held back by tech stocks on Monday after Advantest Corp. fell, which absorbed gains from banks and brokerage stocks following improvements in gross domestic product data.
Towards the end of 1994 and 1995, his losses threatened to overwhelm him, so he made a massive bet on the Japanese stock market by purchasing futures pegged to the Nikkei 225. A bit like betting on more than 2.5 goals in a football match, Leeson bet the Nikkei would go up.
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Agency Brokerage Spark March 14, 2005 (AXcess News) Tokyo - Japan's NEKKEI average was held back by tech stocks on Monday after Advantest Corp. fell, which absorbed gains from banks and brokerage stocks following improvements in gross domestic product data.
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Business Broker Before the Japanese market opened the government released data on gross domestic products (GDP) showing growth in the economy for the three months preceding December of 0.1 percent. Traders were surprised by the news, having expected GDP data to show a 0.1 drop in Japan's economy.
Brokerage Account On Friday in the U.S., Intel released disappointing news that carried over into the NIKKEI average when Japan's market opened Monday.
Stock Broker The NIKKEI was down 30 points by 9:30pm ET Sunday at 11,893.89.
Brokerage Online Stock Trading The broader Topix index was off 3.47 points from its open at 1199.83 on the Tokyo Stock Exchange.Advantest (HK: 6857) was down 2.49 percent at 8600 Yen. The company is the world's largest maker of chip-testing equipment. Friday, Advantest lowered its profit outlook 9.3 percent due to chip manufacturers lowering their capital spending.Also in the tech group, Tokyo Electron (HK: 8035) was down 2.78 percent at 6290 Yen.
Broker Justin Ticket On Friday in the U.S., the Philadelphia Semiconductor Index was down 2.9 percent dragged lower by Intel, which dropped 2.6 percent. Advertisement
Real Estate Brokerage The big gainer Monday amongst bank stocks in Tokyo was Mitsubishi Tokyo Financial Group Inc. (HK: 8306), which rose 0.41 percent at 969000 Yen.
Commodity Broker Amongst brokerage's, Nomura Holdings, Inc. (HK: 8604) was up 0.31 percent at 1582 Yen. Nomura is Japan's largest brokerage firm.
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