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Market Update

Volatile Trading Persists in Tokyo, Tepco Plunges

Author: Hiruki Nakamura
Last Update: 1:20 PM ET August 21 2013

4:30 PM Tokyo –Stocks in Tokyo declined in lackluster trading and volume on stock exchange hovered near the yearly low. The yen weakened. Tepco, the owner and operator of crippled Fukushima Dai-Ichi nuclear power plant may seek overseas help to arrest contaminated water leak.

Stocks in Tokyo closed lower and Topix index declined to the lowest level in eight weeks as emerging and Asian markets dropped ahead of Fed action on stimulus tapering.

The Nikkei 225 Stock Average rose 27.95 to 13,424.33 and the Topix slid 3.53 to 1,121.74.

The yen weakened to 97.66 against one dollar.

Stocks in Review

Toyota Motor Corp dropped 130 yen to 6,030 yen and Honda Motor Co. fell 30 yen to 3,615 yen. Nissan Motor Co Ltd slid 3 yen to 999 yen and the automobile company applied for permission to extend its factory at Sunderland in north-east England.

Sony gained 10 yen to 1,937 yen after it plans to starts sell the PlayStation 4 in North America from Nov 15.

Softbank Corp slipped 40 yen to 6,210 yen and Fast Retailing Co. increased 150 to 31,300 yen.

Hitachi, Ltd slumped 1.5% to 611 yen and the company agreed to sell its stake in Hitachi Via Mechanics Ltd. to the private equity firm Longreach Group.

Kintetsu Corporation declined 6.4% to 396 yen and the transportation company plans to raise as much as 78 billion yen through equity offering in September.

Tokyo Electron Limited jumped 3.8% to 4,240 yen after the Japan based electronic products maker expects semiconductor equipments orders in the second-quarter to increase 7% from a year ago quarter.

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