Nikkei opens higher, hits new 5-year high on broad-based buying
December 28, 2005Stocks opened higher Thursday on the Tokyo Stock Exchange on overnight gains in U.S. shares and the yen's fall against the dollar, lifting the benchmark Nikkei to a new five-year intraday high. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 80.65 points, or 0.50 percent, to 16,275.26, its highest intraday level since Sept. 21, 2000.
IPO shares overwhelmingly opened above offer prices in '05: report
December 28, 2005Only three of the 158 companies that went public on domestic stock exchanges in 2005 debuted below their offer prices, the Nihon Keizai Shimbun reported Thursday. Biotechnology venture Effector Cell Institute Inc., golf goods sales firm Maruman & Co. and Tokyo Star Bank were the only IPOs with opening prices below the offer level, the report said.
Sharp to spend 15 bil. yen to hike output of LCDs: report
December 28, 2005Sharp Corp. plans to invest roughly 15 billion yen to boost its liquid crystal display panel output capacity at the Kameyama No. 1 plant in Mie Prefecture by about 20 percent around next spring, the Nihon Keizai Shimbun reported Thursday. The plan was inspired by the strong sales of 32- and 37-inch LCD televisions in the current year-end sales season, the report said, adding that Sharp hopes to increase the capacity in time to step up production for the summer bonus season.
Nikkei erases early loss to hit yet another fresh 5-year high
December 28, 2005Japan's key Nikkei stock index ended Wednesday sharply higher at a fresh five-year high level as optimism about brighter prospects for the economy next year encouraged investors to chase higher ground, erasing early losses prompted by overnight drops in U.S. shares. The 225-issue Nikkei Stock Average rose 225.21 points, or 1.41 percent, to 16,194.61, its highest finish since Sept. 21, 2000.