Tokyo

Expectations for a rate cut send Tokyo stocks higher

Expectations for a rate cut send Tokyo stocks higher Tokyo  - Stocks in Tokyo recovered Thursday from early falls related to a strengthening yen because of investor speculation that the central bank would drop interest rates.

The benchmark Nikkei 225 Stock Average was up 74.52 points in morning trading, or 0.86 per cent, at 8,687.04.

The broader Topix index of all first-section issues also rose 2.64 points, or 0.31 per cent, to 841.1.

Panasonic secures remaining stakes for Sanyo takeover

Panasonic secures remaining stakes for Sanyo takeover

Canon mothballs plans for new digital camera plant

Canon LogoTokyo - Canon Inc has shelved plans to build a new 196-million-dollar plant for digital still cameras due to plunging demand, the Japanese electronics company said Wednesday.

Construction work for Canon's third plant, with a production capacity of 4 million units, was scheduled to start in January near Nagasaki in western Japan.

Canon originally predicted strong demand, but was forced to cut sales forecasts by 5 per cent to 27.9 million units in October due to demand falling amid the global financial crisis.

US rate cut sends Tokyo stocks higher

US rate cut sends Tokyo stocks higherTokyo - Stocks in Tokyo rose in Wednesday morning trading after the US Federal Reserve cut interest rates to a record low, but a strengthening yen moderated the gains.

The benchmark Nikkei 225 Stock Average was up 91.14 points, or 1.06 per cent, at 8,659.16.

The broader Topix index of all first-section issues also rose 7.51 points, or 0.91 per cent, to 836.13.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 88.73-78 yen, dipping from Tuesday's 5 pm quote of 90.29-30 yen.

Subaru quits rally world championship as well

Subaru LogoTokyo - Subaru on Tuesday quit the world rally championships (WRC) just 24 hours after fellow-Japanese company Suzuki, like them citing the global economic crisis.

Subaru won three straight world rally constructors titles 1995-1997 and three drivers titles from Britons Colin McRae (1995) and Richard Burns (2001) as well as Petter
Solberg of Norway (2003).

But the the grim economic outlook now forced Subaru out of the rally world championship after 19 years with 47 race wins.

Japan stocks fall on US manufacturing, Wall Street declines

Japan stocks fall on US manufacturing, Wall Street declinesTokyo  - Stocks in Tokyo fell Tuesday after a drop in US industrial production and overnight declines on Wall Street.

The benchmark Nikkei 225 Stock Average declined 96.64 points, or 1.11 per cent, to close at 8,568.02.

The broader Topix index of all first-section issues also was down 18.31 points, or 2.16 per cent, at 828.62.

Investors were also cautious, traders said, as they await the results of a US Federal Reserve meeting later Tuesday. The central bank was expected to further slash interest rates.

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