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Tuesday September 18, 11:55 AMJapan Hot Stocks-Tokyo Star, consumer lenders, Hitachi, NomuraTOKYO, Sept 18 (Reuters) - The benchmark Nikkei average fell 1.7 percent and the broader TOPIX was also 1.7 percent lower as of 0354 GMT.The following stocks are on the move on Tuesday: **TOKYO STAR UP AFTER RAISING NET PROFIT FORECAST** Shares of Tokyo Star Bank, a lender up for sale by private equity fund Lone Star [LS.UL], up 1.2 percent at 326,000 yen after it lifted its full-year profit forecast by 35 percent on Friday due to a property sale. [ID:nT107581] 0353 GMT **CONSUMER LENDERS PLUNGE ON CREDIA INSOLVENCY** Consumer lenders and other non-bank financials fall steeply after mid-sized peer Credia Co became Japan's first listed consumer lender to fold amid an industry clampdown by lawmakers and the courts. Aiful Corp plummets 11 percent to 1,829 yen, Shinki Co Ltd drops 8.7 percent to 104 yen, and ACOM Co Ltd is down 8.0 percent at 2,695 yen. Lopro Corp plunges 15.6 percent to 92 yen, NIS Group Co Ltd is down 16.5 percent to 381 yen. 0158 GMT **HITACHI LOWER AFTER ANNOUNCING IMPAIRMENT CHARGE** Hitachi Ltd down 1.1 percent at 692 yen after the electronics conglomerate said on Friday its first-half net loss is likely to widen to 35 billion yen ($304 million). The company said it would book an impairment charge from closing a plasma display panel manufacturing facility. Hitachi had initially forecast a 25 billion yen net loss for the six months ending in September.[ID:nT128837] 0149 GMT **NOMURA DOWN ON CREDIT SUISSE DOWNGRADE** Shares of Nomura Holdings Inc down 4.6 percent at 1,775 yen after Credit Suisse cut its rating on Japan's largest broker to "neutral" from "outperform", citing likely fallout on the financial markets stemming from the U.S. subprime loan problems. "A share price rebound hinges on equity, interest rate and forex markets regaining composure. However, the possibility of further correction owing to emerging concerns over an economic slump does not allow for optimism," Credit Suisse said in a note. "Also, we note that Nomura Holdings' high weighting in the wholesale business, including overseas, could have more of a negative impact compared with its rivals." 0102 GMT **BANKS SOLD IN TOKYO AS CREDIT WORRIES RE-EMERGE** Shares in banks such as Mizuho Financial Group slip on selling amid renewed global credit worries after a rush by savers to withdraw deposits at Britain's Northern Rock and news that middle-ranked Japanese consumer loan firm Credia Co had announced its effective insolvency. Mizuho Financial was down 5.5 percent at 621,000 yen, Sumitomo Mitsui Financial Group down 5.1 percent at 779,000 yen, and Mitsubishi UFJ Financial Group down 3.9 percent at 1.0 million yen. 0047 GMT **SANYO, KYOCERA GIVE UP SOME GAINS ON NEWS OF PHONE TALKS** Shares in both Sanyo Electric and Kyocera Corp down, giving up some of their gains made on Friday after the Nikkei business daily reported that Kyocera aims to buy Sanyo's cellphone operations for about 50 billion yen. Sources close to the matter confirmed to Reuters that Kyocera is entering the final stage of talks to buy Sanyo's loss-making mobile phone business in a deal that would create the world's No.7 cellphone provider. [ID:nT109729] Sanyo shares were down 5.4 percent at 175 yen and those of Kyocera slid 2.6 percent to 10,510 yen. Sanyo's stock had gained 5.7 percent on Friday, while Kyocera had rallied to close up 4.2 percent. 0042 GMT (For IPO news, data and diary, click) |
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