- Title: JAPAN: Japanese stocks open slightly up as TEPCO gains
- Date: 19th April 2011
- Summary: TOKYO, JAPAN (APRIL 18, 2011) (REUTERS) ENTRANCE TO TOKYO STOCK EXCHANGE (TSE) BUILDING TSE FLOOR OPENING GRAPHIC ON TSE ELECTRONIC STOCK BOARD NIKKEI 225 OPENING AT 9593.41 UP 1.89 STOCKS AND TOKYO ELECTRIC POWER COMPANY STOCK AT 481 UP 12 CHANGING TO 480 UP 11 TSE MONITORING AREA WITH TSE OFFICIALS MONITORING TRADING VARIOUS OF TSE OFFICIALS MONITORING TRADING GAITAME.COM OFFICE WITH SCREEN SHOWING DOLLAR/YEN RATE AT 83.032 VARIOUS OF PEOPLE WORKING SCREEN SHOWING YEN/DOLLAR RATE AT 83.080 CHANGING TO 83.081 U.S., CANADIAN, AND JAPANESE FLAG IN FRONT OF SCREEN DISPLAYING YEN/DOLLAR RATE AT 83.100 CHANGING TO 83.093
- Embargoed: 4th May 2011 13:00
- Location: Japan, Japan
- Country: Japan
- Topics: Finance
- Reuters ID: LVADZ9A2IRJLNHENIPU0U73QYON6
- Story Text: Japanese stocks opened slightly higher on Monday (April 18) as TEPCO gained following the company's announcement of its plans on how to deal with the stricken Fukushima Daiichi plant on
Sunday (April 17).
The benchmark Nikkei 225 average opened at 9593.41 slightly up 1.89 before falling later in the day.
Tokyo stocks have recouped around two-thirds of the losses incurred after the devastating March 11 earthquake.
However, trade has turned more volatile and has thinned out ahead of earnings reports that may pose more questions than they answer, as many firms will likely not give forecasts for this business year.
Tokyo Electric Power Co (TEPCO) gained after the company said on Sunday (April 17) it hoped to achieve a "cold shutdown" of its crippled Fukushima Daiichi nuclear plant in six to nine months, setting a timeframe for bringing the prolonged crisis under control.
Shares in KDDI Corp however fell 2 percent to 491,500 yen after the Nikkei business daily said TEPCO planned to sell its shares in the firm to help pay for costs stemming from the crisis at the Fukushima plant.
Asia's largest utility holds about 360,000 shares in KDDI, or an 8 percent stake, which are worth about 180 billion yen (2.17 billion US dollars) at current market prices, the daily said.
- Copyright Holder: REUTERS
- Usage Terms/Restrictions: None