Canon Inc. (ADR: CAJ) Approaching All-time High on NYSE; Trend Micro (ADR: TMIC) Leads Tech Rally on Tokyo Stock Exchange

Includes: CAJ, TMICY
by: Steven Towns

Canon's shares that trade on the Tokyo Stock Exchange reached an all-time high on Monday. That record didn't last long as it was expanded on today for a gain of 220 yen to close Y6,440 (+3.54%). Canon's ADRs (ticker: CAJ) are .20 off its all-time high of $55.08 established on June 8th of this year.

Canon is clearly benefiting from favorable foreign exchange markets in which the dollar has strengthened versus the yen to a 16-month high. Consumer electronics manufacturers and the tech sector enjoyed an exceptionally bullish day of trading on the Tokyo Stock Exchange in the wake of what's being called a disappointing business confidence report released yesterday by the Bank of Japan.

Trend Micro, Inc., (ADR: TMIC) an anti-virus and Internet content security firm, lead all components of the Nikkei 225 Index with a 10.43% gain (up 360 yen to close at Y3,810). Yesterday Trend Micro announced the availability of a new "lite" (entry edition) version of its Virus Buster software to the Japanese market. You may recognize Trend Micro as the official virus scanner of Hotmail email attachments.