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Market Update

Sony Sells 1 Million PS4 Units on Launch, Misawa Homes Plunges


Author: Hiruki Nakamura
ticker.com
Last Update: 10:04 AM ET November 18 2013

4:30 PM Tokyo Sony sold more than one million PS4 game console on the first day of launch in the U.S. and Canada. Misawa Homes plunged after it found defective construction at 1,619 homes. Pigeon Corp and Unicharm soared after China relaxed one-child policy.

Stocks extended gains in Tokyo trading for the third day in a row and financial companies led the advance.

The yen edged lower and the dollar traded above 100-mark for the second day near two-month low.

The Nikkei 225 Stock Average closed inched up at 1.62 to 15,164.30 and the Topix rose 2.63 to 1,241.67.

The yen rose to 100.30 against one dollar and extended its loss for the third day in a row.

Stocks in Review

Toyota Motor Corp slid 20 yen to 6,350 yen and Honda Motor Co. jumped 50 yen to 4,140 yen. Nissan Motor Co Ltd added 3 yen to 927 yen.

Sony gained 16 yen to 1,862 yen after the electronics products maker sold above 1 million PlayStation 4 consoles in 24 hours that started selling in the U.S. and Canada on Friday.

Sony is scheduled to launch PS4 in Europe and Latin America on November 29.

Softbank Corp rose 30 yen to 7,770 yen. Fast Retailing Co. increased 100 yen to 35,700 yen.

Baby products makers were in focus and soared after China relaxed its one-child policy. Communist Party announced the government will permit couples to have two children if either parent is an only child from its current policy of having second child if both parents are only children.

Unicharm increased 4% to 6,520 yen and Pigeon Corp gained 7% to 5,150 yen.

Dwango Co., Ltd surged 16.5% to 2,638 yen and extended gains for the second day after Nintendo Co. bought 612,200 shares in the mobile content provider last week. Nintendo declined 0.2% to 13,040 yen.

Misawa Homes Co Ltd dropped 4% to 1,583 yen after the Japan-based home builder found defective construction cases in 1,619 homes at three of its units. Defective units were found in Honshu Island, Saga prefecture and Chugoku area.

Skymark Airlines Inc jumped 9% to 357 yen and the company stock will shift trading to Tokyo Exchange first section from TSE Mothers Market for smaller companies.

Rakuten Inc soared 9% to 1,499 yen and the operator of e-commerce sites traded at a record high on no news.

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