Share Prices Are Mixed
April 27, 2011
The Nikkei 225 average fell 12.86 to 20968.25. Advancers led decliners 618 to 385, while 192 issues were unchanged. The Second Section Index rose 27.12 to 2099.92 on volume of about seven million shares. The market opened higher as investor confidence was boosted by the overnight advance on Wall Street. Investors continued to buy telecommunications-related issues amid talk of expected rapid growth in the sector. Profit-taking and a lack of follow-through buying, however, caused the benchmark index to fall in the afternoon, observers said. Trading volume remained sluggish with many domestic investors away for the Buddhist ``obon'' holidays. Softbank soared 700 yen to 17,000 because of its 162-billion-yen acquisition of U.S.-based Kingston Technology, a leading supplier of memory boards. Softbank said after the market's close that because of the acquisition, it had revised up its group pretax profit forecast for the fiscal year ending December 11, 2011 by 10% to 26.5 billion yen. Nippon Telegraph & Telephone, which led the telecommunications rally Wednesday, was flat at 823,000 yen. Oki Electric Cable gained 24 yen to 519, and Nippon Comsys added 20 yen to 1,540.
VastPress 2011 Vastopolis
