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Oct. 25, 2004, 7:42 p.m. EDT

Tokyo stock indexes expected lower

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By Osamu Tsukimori, CBS MarketWatch.com

TOKYO (CBS.MW) -- Japanese stock indexes are expected to fall Tuesday following the slight loss of U.S. shares and as the dollar's six-month low against the yen raises concern about the effect on exporters' profits.

"Because the U.S. investors are expected to stick to sidelines this week ahead of the third-quarter GDP data on Friday, investors in Tokyo would not be able to try to buy back shares on dips," said Tetsuya Ishijima, senior investment strategist at Okasan Securities Co. in Tokyo.

Crude oil prices closed below $55 a barrel in New York on Monday, and the Nikkei could fall as low as 10,500 on Tuesday, Ishijima added.

Crude for December delivery went as high as $55.67 a barrel in overnight trading on Monday in before closing at $54.54, down 63 cents, as Norwegian officials moved to end the threat of a lockout by ship owners and traders assessed possible remedies to the tight oil-supply. See Futures Movers. The price fell to $54.40 in after-hours trading.

Semiconductor-related stocks such as Tokyo Electron /zigman2/quotes/202883609/delayed JP:8035 -0.22% /zigman2/quotes/200298228/composite TOELF +2.03% may get support after Citigroup Smith Barney upgraded 15 stocks in the semiconductor sector, including Texas Instruments /zigman2/quotes/202237907/composite TXN +0.07% , which was boosted to "buy" from "hold." See Ratings Game.

Advantest /zigman2/quotes/206869087/delayed JP:6857 -1.49% /zigman2/quotes/202479540/composite ADTTF -0.75% , the world's largest maker of equipment used to test computer-memory chips, kicks off the start of the quarterly earnings season in Japan. The company reports earnings today after the market close.

Other companies reporting earnings today include Softbank Investment /zigman2/quotes/200067066/delayed JP:8473 +0.87% , Seiko Epson /zigman2/quotes/204565042/delayed JP:6724 -0.56% /zigman2/quotes/204093996/composite SEKEF +18.56% and Daiwa Securities Group /zigman2/quotes/201391978/delayed JP:8601 -0.24% .

On Monday, the Nikkei Average tumbled 1.8 percent to 10,659.15, while the broader Topix fell 1.4 percent to 1,075.12. Nikkei 225 futures for December delivery closed at 10,665 in Chicago.

On Monday, the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.98% and the Nasdaq Composite Index both closed down 0.1 percent.

The dollar traded at 106.63 yen, compared with 106.85 yen late Monday in the United States.

/zigman2/quotes/202883609/delayed
JP : Japan: Tokyo
¥ 58,570.00
-130.00 -0.22%
Volume: 650,200
May 24, 2022 1:45p
P/E Ratio
20.96
Dividend Yield
2.86%
Market Cap
¥9091.08 billion
Rev. per Employee
¥138.39M
loading...
/zigman2/quotes/200298228/composite
US : U.S.: OTC
$ 458.90
+9.14 +2.03%
Volume: 170.00
May 23, 2022 3:53p
P/E Ratio
18.49
Dividend Yield
N/A
Market Cap
$71.02 billion
Rev. per Employee
$1.23M
loading...
/zigman2/quotes/202237907/composite
US : U.S.: Nasdaq
$ 169.93
+0.12 +0.07%
Volume: 5.38M
May 23, 2022 4:00p
P/E Ratio
19.43
Dividend Yield
2.71%
Market Cap
$156.59 billion
Rev. per Employee
$611,613
loading...
/zigman2/quotes/206869087/delayed
JP : Japan: Tokyo
¥ 8,590.00
-130.00 -1.49%
Volume: 674,200
May 24, 2022 1:45p
P/E Ratio
19.19
Dividend Yield
1.40%
Market Cap
¥1654.09 billion
Rev. per Employee
¥79.24M
loading...
/zigman2/quotes/202479540/composite
US : U.S.: OTC
$ 67.26
-0.51 -0.75%
Volume: 100.00
May 20, 2022 12:46p
P/E Ratio
16.95
Dividend Yield
N/A
Market Cap
$12.92 billion
Rev. per Employee
$705,186
loading...
/zigman2/quotes/200067066/delayed
JP : Japan: Tokyo
¥ 2,661.00
+23.00 +0.87%
Volume: 2.15M
May 24, 2022 1:45p
P/E Ratio
1.95
Dividend Yield
4.89%
Market Cap
¥624.77 billion
Rev. per Employee
¥66.53M
loading...
/zigman2/quotes/204565042/delayed
JP : Japan: Tokyo
¥ 2,136.00
-12.00 -0.56%
Volume: 704,500
May 24, 2022 1:45p
P/E Ratio
8.01
Dividend Yield
3.37%
Market Cap
¥734.60 billion
Rev. per Employee
¥14.12M
loading...
/zigman2/quotes/204093996/composite
US : U.S.: OTC
$ 17.25
+2.70 +18.56%
Volume: 1,700
May 19, 2022 1:29p
P/E Ratio
7.31
Dividend Yield
N/A
Market Cap
$5.30 billion
Rev. per Employee
$125,665
loading...
/zigman2/quotes/201391978/delayed
JP : Japan: Tokyo
¥ 621.80
-1.50 -0.24%
Volume: 2.07M
May 24, 2022 1:45p
P/E Ratio
7.43
Dividend Yield
5.31%
Market Cap
¥931.02 billion
Rev. per Employee
¥41.51M
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
31,880.24
+618.34 +1.98%
Volume: 405.83M
May 23, 2022 5:43p
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Osamu Tsukimori is a reporter for CBS MarketWatch.com based in Tokyo.

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