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Market Update

Nikkei Ends Higher After Wild Trading in Tokyo

Author: Hiruki Nakamura
Last Update: 10:14 AM ET May 24 2013

5:30 PM Tokyo In wild trading stocks in Tokyo closed higher as retail investors step up. Retail participation in Tokyo trading has steadily increased from less than 20% to close to 40% in the last three months as speculators ride market momentum.

After a wild rise in Tokyo trading stocks managed to close higher at close.

The Nikkei index increased as much as 3% and plunged more than 3% after cautious comments from the Bank of Japan Gvoernor Kuroda and managed to rebound at close 0.9%.

The yen edged higher to 101.43 against one dollar and the yen as investors pulled back and the market indexes and the currency reversed the course after the recent multi-year highs.

The Nikkei 225 Stock Average gained 128.47 or 0.9% to 14,612.45 and the broader Topix Index rose 5.74 to 1,194.08. For the week Nikkei 225 dropped 3.5%.

Stocks in Review

Toyota Motor Corp dropped 60 yen to 6,230 yen and Honda Motor Co. gained 30 yen to 4,060 yen and Nissan Motor Co Ltd decreased 13 yen to 1,155 yen.

Sony fell 11 yen to 2,148. Canon Inc slid 25 yen to 3,710 yen and Nikon soared 109 yen or 4% to 2,832 yen.

Sony Corporation fell 0.5% after the electronics products maker plan to raise 150 billion yen or $1.5 billion in its first sale of bonds to retail investors and will invest 180 billion yen in capital investment, 4.6% lowered than the year ago.

Fanuc Corp. gained 70 yen to 15,840 yen Softbank Corp jumped 70 yen to 5,390 yen.

Seven & I Holdings Co climbed 95 yen to 3,635 yen. Fast Retailing Co. rose 200 yen to 38,300 yen.

Mitsubishi UFJ Financial Group fell 12 yen to 622 yen and Sumitomo Mitsui Financial Group slipped 90 yen to 4,210 yen.

Nissan Motor Co., Ltd. slid 13 yen to 1,155 yen after the auto maker said it plans to launch its first low in price car Datsun model in India by March 2014.

The auto maker will recall the Micra model a total of 841,000 vehicles worldwide facing steering wheels problems.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc