Nikkei 225 Trades In Narrow Range; Edges Up 0.02%

The Nikkei 225 Tuesday took a cue from Monday’s sideways performance, and barely budged through the morning and afternoon trading sessions, slipping up 0.02% by the closing bell. Traders reviewed the overnight drop on Wall Street, and a healthy average p/e ratio above 21 on Japanese stocks, and moved to sidelines, said analysts.

The broad measure Nikkei 225 closed up 3.22 to 19,908.68, although gainers easily outnumbered losers 142 to 76.

Leading the upside were electronic consumer-products maker Sharp Corp. (SHCAY, 6753:Tokyo), up 5.60%; followed by materials-and-textiles house Toyobo (TYOBY, 3101:Tokyo) up 4.24%; and then pharmaceuticals concern Nippon Kayaku (NPKYY 4272:Tokyo), up 3.98%.

On the downside were soy-sauce purveyor Kikkoman (KIKOF, 2801:Tokyo) off 2.61%, and then food-and-pharmaceuticals house Meiji Holdings (MEJHF, 2269:Tokyo), off 2.08%.

Nikkei Futures

nikkeifutures.org@imediaone.com

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