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Mitsubishi UFJ Financial Group, Inc. Message Board

  • bluecheese4u bluecheese4u Jan 8, 2008 11:54 PM Flag

    Most Japanese Stocks Rise as Investors Favor Cheap Companies

    Most Japanese Stocks Rise as Investors Favor Cheap Companies

    By Patrick Rial

    Jan. 9 (Bloomberg) -- Most Japanese stocks rose, led by Mitsubishi UFJ Financial Group Inc., amid speculation a recent sell-off has made many Japanese shares attractive.

    Mitsubishi UFJ, the nation's biggest publicly traded bank, climbed 2.3 percent. The Topix index has tumbled 17 percent in the last 12 months, making Japan the worst performing market among the world's 10 largest and cheaper than U.S. shares.

    Takeda Pharmaceutical Co. climbed after investors bought shares of companies whose profits are insulated from the global economic cycle after the U.S. showed additional signs of slowing.

    Honda Motor Co. led automakers and machinery companies lower after an index of U.S. home sales fell more than forecast and AT&T said more customers are missing payments, pointing to a widening fallout from the housing recession.

    ``Market valuations are very cheap and I think maybe the negative information has been discounted,'' said Masayuki Kubota, who helps oversee $2.2 billion in assets at Daiwa SB Investments Ltd. in Tokyo. Japan's manufacturing and auto ``industries will be harmed as economies start deteriorating, so investors sell Japan's shares first before any other markets.''

    The broad Topix climbed 8.86, or 0.6 percent, to 1,411.10 as of 1:16 p.m. in Tokyo, reversing a 1.7 percent decline. The Nikkei 225 Stock Average fell 26.33, or 0.2 percent, to 14,502.34. About eight shares rose for every seven that declined on the first section of the Tokyo Stock Exchange.

    Nikkei futures expiring in March lost 0.2 percent to 14,510 in Osaka and declined 0.2 percent to 14,515 in Singapore

    http://www.bloomberg.com/apps/news?pid=20601101&sid=aKM0s6APFl0A&refer=japan

 
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