Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 15,303.10 +8.60 0.06%
S&P 500 1,649.60 -0.91 -0.06%
Nasdaq 3,459.14 -0.27 -0.01%
Ticker Volume Price Price Delta
STOXX 50 2,764.29 -12.49 -0.45%
FTSE 100 6,654.34 -42.45 -0.63%
DAX 8,305.32 -46.66 -0.56%
Ticker Volume Price Price Delta
Nikkei 14,612.50 +128.47 0.89%
Hang Seng 22,618.70 -51.01 -0.23%
S&P/ASX 200 4,983.50 -78.95 -1.56%

Tsugami Falls Most in Five Years on Order Report: Tokyo Mover

Tsugami Corp. (6101) fell the most in almost five years in Tokyo trading after Citigroup Inc. said orders for the company’s machine tools are slowing since peaking in March.

Tsugami shares fell as much as 12 percent, the most since Aug. 17, 2007, to 479 yen on the Tokyo Stock Exchange. The stock fell 11 percent to 485 yen as of 10:39 a.m. The Topix Machinery Index declined 0.8 percent.

Demand has slowed from most customers, including suppliers to Apple Inc., Graeme McDonald, a Tokyo-based analyst at Citigroup Global Markets Japan Inc., wrote in a report dated yesterday. Orders for machinery tools used in the car industry have slowed, while demand for machines used to make hard-disk drive components have yet to materialize, McDonald wrote, citing Tsugami’s chief executive officer.

To contact the reporter on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net

To contact the editor responsible for this story: Teo Chian Wei at cwteo@bloomberg.net

Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.

Sponsored Link