Japan

Tokyo stocks up; gains capped due to lingering economic concerns

Tokyo stocks up; gains capped due to lingering economic concerns Tokyo  - Tokyo stocks opened higher Wednesday but gains were limited due to lingering economic concerns.

The Nikkei 225 Stock Average gained 68.11 points, or 0.81 per cent, to 8,482.02.

The broader Topix index of all First Section issues was also up 11.29 points, or 1.39 per cent, to 825.41.

On the currency markets at 9 am (0000 GMT), the dollar was quoted at 89.35-40 yen, up from Tuesday's 5 pm quote of 89.25-28 yen.

Nissan goes "green" with eco-friendly paint

Nissan goes "green" with eco-friendly paintTokyo - Japanese carmaker Nissan aims to reduce the negative environmental impact of the factory painting process with a new generation of water-based colour coatings. The paints will also be available in Japan as aftermarket products.

According to Nissan, the new paint formula contains half the amount of volatile organic compounds such as formaldehyde and toluene that are used as paint solvent or adhesive agents. The new technology results in reduced CO2 emissions, cuts energy consumption and significantly reduces waste.

Report: Sony to incur first operating loss in 14 years

Sony to incur first operating loss in 14 years Tokyo - Sony Corp was expected to see its first operating loss in 14 years in the fiscal year 2008 that ends in March, a Japanese media report said Tuesday.

The Japanese electronics giant was to incur a loss of about 100 billion yen (1.11 billion dollars) for the year due to a stronger yen and slow sales of flat-screen televisions, the Japanese business daily The Nikkei said.

Sony lowered its projection of the year's operating profit in October from an initial estimate of 520 billion yen to 470 billion yen in July and then to 200 billion yen in October.

Tokyo stocks lose on Sony's expected operating loss

Tokyo stocks lose on Sony's expected operating lossTokyo - Stocks plunged more than 4 per cent in Tokyo Tuesday as the market sentiment was dampened by speculation that Sony Corp would incur the first operating loss in 14 years for the fiscal year 2008.

The Nikkei 225 Stock Average tumbled 422.89 points, or 4.8 per cent, to close at 8,413.91.

The broader Topix index of all First Section issues also fell 40.9 points, or 4.78 per cent, to 814.12.

Japan's November current account surplus down 65.9 per cent

Tokyo - Japan's current account surplus narrowed by 65.9 per cent in November to 581.2 billion yen (6.47 billion dollars), compared to the same month a year before, as goods trade fell due to a slowdown in exports, the Finance Ministry said Tuesday.

The balance of goods and services trade reported a deficit of 184.2 billion yen in November.

Japan reported a deficit of 93.4 billion yen in goods trade, down from a surplus of 907.6 billion yen a year before. Exports fell 26.5 per cent to 5.06 trillion yen.

Imports shrank 13.7 per cent to 5.16 trillion yen.

In services trade, Japan saw a deficit of 90.8 billion yen, down 20.4 per cent, as Japanese travelers spent less overseas.

Tokyo stocks lose 4 per cent on Sony's expected operating loss

Tokyo stocks lose 4 per cent on Sony's expected operating loss Tokyo - Stocks lost more than 4 per cent in Tokyo Tuesday as market sentiment was dampened by media reports on speculation that Sony Corp would incur an operating loss for the fiscal year.

The Nikkei 225 Stock Average tumbled 380.32 points, or 4.3 per cent, to end the morning session at 8,456.48.

The broader Topix index of all First Section issues was also down 37.33 points, or 4.37 per cent, to 817.69.

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