New Laws of Commercial Registration and Trade Names take effect on Thursday    Civil Defense warns of heavy rains across Saudi Arabia until Monday    Saudi Exchange suspends trading of seven companies over financial disclosure delays    New fleet of 76 public transport buses starts operation in Jeddah on Tuesday Environmentally friendly electric buses introduced for first time    Foreign investors are allowed to engage in real estate business outside Makkah and Madinah Commercial speculation should not be the purpose of real estate transaction    EU preparing 'further countermeasures' to protect its interest, von der Leyen says    Tesla sales plunge after backlash against Elon Musk    Musk's X is suing India, as Tesla and Starlink plan entry    Israel announces expansion of military operation in Gaza to seize 'large areas' of land    US cancels visa of Nobel Peace Prize winner Oscar Arias    Danish prime minister refutes US claim on Greenland on visit to the Arctic territory    Aubameyang fires Al Qadsiah into King's Cup final with stoppage-time winner over Al Raed    Cristiano Ronaldo joins Fatal Fury: City of the Wolves    Saudi Arabia welcomes trilateral border treaty between Tajikistan, Kyrgyzstan, and Uzbekistan    Swedish table tennis legend Jörgen Persson appointed head coach of Saudi national team    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Screen time in bed linked to insomnia, study finds    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Saudi creatives shine at Jeddah's Fawanees Nights with art, fashion, and storytelling    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







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Nikkei slips as techs' tumble outweighs bank gains
Published in Saudi Press Agency on 02 - 07 - 2005

Tokyo's Nikkei share average finished down 0.35 percent on Wednesday after losses by Advantest Corp. and other tech firms outweighed gains by Internet conglomerate Softbank Corp. and the banking sector, Reuters reported.
Aggressive buying of banks and other issues by foreign investors had appeared set to help the Nikkei post a fresh four-year high. But selling of Advantest and others tech issues pushed the benchmark into negative territory by late afternoon.
"This buying has been pretty incredible ... banks were especially impressive," said Ken Masuda, a senior dealer in equities at Shinko Securities.
"Had the Topix risen again today, it would have been its eighth straight win. Stocks like Advantest had just risen too much."
The Nikkei closed down 42.55 points at 12,273.12.
The broader TOPIX index fell 0.16 percent or 2.02 points to 1,250.10.
Advantest, the world's biggest maker of chip-testing devices, lost 2 percent to 8,850 yen, snapping a two-day rally.
Ibiden Co. Ltd., a maker of printed circuit boards, fell 2.4 percent to 3,700 yen.
U.S. personal computer maker Gateway Inc. cut its 2005 earnings forecast earlier this week, raising concerns that growth in the sector was slowing.
Citizen Watch Co. fell 6 percent to 891 yen and was the biggest percentage loser in the Nikkei.
On Tuesday, Citizen posted a 52 percent fall in quarterly operating profit and cut its full-year outlook by 27 percent on weak demand for cellphone parts.
Internet firm Softbank rose 7.5 percent to 5,450 yen, becoming the biggest percentage gainer among the Nikkei 225 issues and the most actively traded share in terms of value.
The company has gained for six straight sessions as investors warm to improvements in its broadband and fixed-line businesses.
Elsewhere, Yahoo Japan Corp., a joint venture between Softbank and U.S. Internet portal Yahoo Inc. said it planned a 2-for-1 share split on November 18.
Yahoo Japan shares finished up 3.2 percent at 261,000 yen before the announcement. --mor 1155 Local Time 0855 GMT


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