Tech-Heavy Nikkei Gains as Bank-Heavy Topix Falls, Today's Movers (EWJ, TDK, ATE, NIPNY, KYO, HIT, SNE, MTU, MLEA, NMR)

by: Steven Towns

The Nikkei 225 gained 35.47 points (+0.25%) to close at 14,072.20. It actually opened under 14,000 at 13,989.31 presumably on the poor performance of the U.S. exchanges yesterday. In the late afternoon it peaked for the day at 14,136.16.

The TOPIX Index lost 9.82% (-0.66%) to close at 1,487.71. It opened lower as well and never reached its prior day's closing price of 1,497.53. As bank stocks were broadly sold-off today the TOPIX Index struggled maintain any upward momentum.

The JASDAQ, following suit with the tech-heavy Nikkei 225, finished up 0.43 points (+0.40%) to close at 107.45, the 13th day out of the past 14 it has finished higher.

The yen also gained ground on the dollar, easing from the upper Y117/US$1 range to the lower Y117 range.

Japan stocks with ADRs that had the biggest gains in Tokyo today include: TDK (ticker: TDK) +6.37%, Advantest (ticker: ATE) +5.62%, NEC (ticker: NIPNY) +2.28%, Kyocera (ticker: KYO) +2.11%, Hitachi (ticker: HIT) +2.04%, and Sony (ticker: SNE) +1.52%.

Laggards included financial related stocks led by: Mitsubishi UFJ Financial Group (ticker: MTU) -3.70%, which was also down -1.82% yesterday,Millea Holdings (ticker: MLEA) -3.57%, which led Japan stocks with ADRs yesterday gaining 3.23%, and Nomura Holdings (ticker: NMR) -1.40%.

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