Board-Ansicht
Mix-Ansicht- Nikkei über 10.000 - Mega banks' 1H results out today - off-shore-trader, 25.11.2003, 01:26
Nikkei über 10.000 - Mega banks' 1H results out today
-->Nikkei tops 10000 threshold as Wall Street overnight gains,
higher USD/JPY spur players to buy high techs, auto exporters. Players say
high-tech buying could lift index toward 10200, but market also cautious ahead
of mega banks' 1H results out today. Masatoshi Kikuchi of Merrill Lynch
maintains expectations for Nikkei to trade in range to year-end and says
long-term uptrend remains intact as long as index remains over 200-day moving
average of 9260; recommends domestic demand-related stocks.(MYA)
Japan banks including Resona (8308), UFJ Holdings (8307),
Mizuho Financial Group (8411), Mitsubishi Tokyo Financial Group (8306) to
announce 1H results today; figures expected to show improved earnings as many
have already revised outlooks upward. Buying of broad range of banking shares
likely today, says brokerage manager. Others watching results of regional banks
as cue for next possible government bailout. (MYA)
December Nikkei 225 index futures open 175 points higher at
10005 on SGX in Singapore. (ABR)
TECHNICAL ANALYSIS: Nikkei December futures almost certain
to rise after CME close reached 10030 overnight, says Dow Jones analyst Iwao
Kozu; contract likely to test 10100-10180 resistance zone. But given shape of
chart, rebound would be curbed at that resistance level; on hitting that level,
contract likely to head lower to 9590, then aim for Aug 7 low of 9200. (MYA)
Fujitsu (6702) may rise on Nikkei report computer
manufacturer to transform Shanghai joint venture into wholly owned unit
responsible for managing China affiliates that perform systems configuration.
China sales amounted to Y40 billion last year; Fujitsu expects to quadruple top
line by 2005. Issue closed Friday at Y577; now ask/bid at Y596/Y595.(JUN)
Gigas (9921) set to record big gains after K's Denki (8282)
said it will acquire home electronics retailer through stock swap and turn it
into wholly-owned subsidiary. Plans call for Gigas' common stock to be swapped
for 0.5 new shares issued by K's Denki. Therefore, based on K's Denki's close
Friday of Y1,327, Gigas' shares have theoretical value of around Y664, much
higher than its Friday close of Y519. Gigas now ask Y619, bid Y619.(JSH)
Itochu (8001) may rise on Nikkei report firm teaming up with
China's largest pharmaceutical company Sanjiu Enterprise Group to launch
'kampo' herbal medicine plant in China. Itochu will also develop medical
component analysis center that will provide data on pesticide and trace
minerals included in herbal medicines. Issue closed at Y315 Friday; now ask/bid
at Y330/Y329.(JUN)
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