Japanese Stocks Start 2006 With a Bang -- ADRs to Watch (KUB, NMR, CAJ, MTU)

Today was the first day of trading in Japan in 2006, preceded by a market-opening ceremony marking the beginning of the trading year. After a long New Year holiday, both domestic and foreign investors were eager to snap up shares in a shortened half-day of trading. The Nikkei 225 gained 250 points (1.55%) to close at 16,361.54 while the broader TOPIX Index closed up 1.41%. The Yen also strengthened in a big way against the dollar to the upper Y115/US$1 level. Fueling this strong move by the Yen and Japanese stocks was news that the Federal Reserve may soon be ending its string of rate increases.

Nikkei 225: +250.11 (+1.55%) closed at 16,361.54, opened 183+ points higher than prior close of 16,111.43, intra-day high was at closing and low was 16,250.76

TOPIX: +23.31 (+1.41%) closed at 1,673.07, opened nearly 17 points higher than prior close of 1,649.76, traded as high as 1,674.27 and low was 1,665.74

JASDAQ: +1.80 (+1.38) closed at 132.01, traded between 131.14 and 132.11

Yen: last posted rate Y115.97/US$1

Today’s ADRs to watch based on earlier trading of shares in Japan

* Advancers: Kubota (KUB) +4.44%, Nomura Holdings (NMR) +3.54%, Canon (CAJ) +2.03%, Mitsubishi UFJ Financial Group (MTU) +1.88%

* Decliners: Sanyo Electric (SANYY) -1.88%, Sony (SNE) -1.87%