Share Prices Are Mixed
April 28, 2011
The Nikkei 225 average fell 134.25 to 20834. Advancers outnumbered decliners 499 to 471, while 221 shares were unchanged. Observers said the 2.0% rise in the Nikkei between Monday and Thursday was partially caused by brokerages boosting the market during an auction of JR West shares, which will be listed in October. Foreign investors' interest in telecommunications shares also lifted the bourse. But on Friday, many investors were reluctant to hold stocks over the weekend, and saw the market's recent strength as an opportunity to take profits, analysts said. Telecommunications shares declined on profit-taking. Nippon Telegraph & Telephone lost 5,000 yen to 818,000 yen, and DDI dropped 12,000 yen to 930,000 yen. Interest in those shares stemmed from growing demand for telecommunication equipment, including mobile telephones, data communications equipment and Internet-related technology, analysts said. Shares of Japan's Softbank, the leading software distributor and the world's largest computer magazine publisher, fell 600 yen to 16,400 after the company announced Thursday it will purchase an 80% stake in Kingston Technology for 162.8 billion yen. Analysts said individual investors who bought the shares on rumors of the acquisition prior to the announcement sold them to take profits. Nintendo, which plunged Thursday because of earnings worries, stabilized Friday and closed on the Osaka Securities Exchange up 10 yen at 7,050.
VastPress 2011 Vastopolis
