It was a short week due to President's Day, but there was a lot of excitement, especially late in the trading week as the Nikkei 225 Stock Average finally surpassed 18,000 for the first time in nearly seven years. The TOPIX meanwhile traded at a 15 year high.
Below is a list of last week's best and worst performing Japanese ADRs, as well as a chart showing the weekly returns of all 28.
Best weekly returns:
- 1. Mitsui & Co. (OTCPK:MITSY) -- 8.7%
2. Nomura (NMR) --7.1%
3. Trend Micro (TMIC) -- 6.0%
4. Kubota (KUB) -- 5.0%
5. Internet Initiative Japan (IIJI) -- 2.5%
All five of these stocks continued trading to the upside following gains of more than 5% each two weeks ago.
Worst weekly returns:
- 1. Konami (KNM) -- (5.4%)
2. Honda (HMC) -- (2.4%)
3. Nissan (OTCPK:NSANY) -- (2.1%)
4. Matsushita (MC) -- (1.9%)
5. NTT (NTT) -- (1.8%)
Both Honda and NTT are familiar faces, having posted negative weekly returns two weeks ago also.
Click to enlarge chart
Disclosure: The author owns shares of IIJ and NIS Group.