TOKYO -- Tokyo shares were slightly lower Thursday as selected technology shares were hit with profit-taking ahead of the close of the fiscal first half on Sept. 30.
index shed 147.26 to close at 16,311.05, while the
index, which includes all shares listed on the
Tokyo Stock Exchange's
first section, lost 6.94 to finish at 1513.71. The
small-cap index closed flat at 76.42, while the Nikkei
index gained 0.43 to stand at 1618.73.
Local news ruled the session, with shares of the
Industrial Bank of Japan
Dai-Ichi Kangyo Bank
jumping before the stocks are delisted due to their upcoming merger. IBJ rose 33 yen, or 4.1%, to 835 ($7.83), DKB gained 8, or 1.0%, to 810, while Fuji Bank rose 13, or 1.6%, to 819. The new merged institution will be called
fell hard during the morning session but managed to rebound after news that the president of
, in which Softbank owns a 48.88% stake, committed suicide Wednesday. Although investors initially had thought Tadayo Honma's death a setback, some investors speculated that a management reshuffling would occur at the bank (formally known as
Nippon Credit Bank
). Shares rose 720, or 6.5%, to 11,880.
Matsushita Electric Industries
gained a mere 5 to 2900 after the firm said it would jointly test third-generation mobile-phone systems with Sweden's
On the downside, institutional investors looked to make a quick yen on tech shares before their books close next week.
lost 26, or 2.7%, to 943, while
Nippon Telegraph & Telephone
shed 50,000, or 3.8%, to 1.26 million.
, maker of Hello Kitty and other kitschy Japanese pop products, fell 85, or 3.4%, to 2390 after the firm lowered its expected group net profit for the year ending March 2001 to 7.7 billion yen vs. 17.1 billion yen.
The euro managed to hit another low against the dollar, hitting 0.8474 during Asian trading. The greenback also slid against the yen recently to fetch 106.64.
index slid 501.17, or 3.2%, to close at 15,164.45 largely due to shares of
Pacific Century Cyberworks
( PCW) getting pummeled. PCCW fell HK$1.60, or a whopping 14.9%, to 9.15 ($1.17) after shares were suspended midday Wednesday at HK$10.75.
Cable & Wireless PLC
( CWP) had placed 1.04 billion of its PCCW shares, and previous worries that the shares would be placed at a deep discount were confirmed. C&W placed each share in the market at 9.88.
Shares of firms with major operations in mainland China also took a tumble, with
down 2.75, or 5.1%, to 51.25, while
slid 0.50, or 6.9%, to 6.75.
Elsewhere in Asia, Korea's
index shed 10.09, or 1.7%, to close at 595.99, while Taiwan's
index was the lone gainer among the major Asian indices, rising 40.81 to finish trade at 6920.90.