Japan’s Nikkei 225 Stock Average climbed 99.58, or 1.1 percent, to 9,547.79 as of the close of trading in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Chubu Electric Power Co. (9502 JT), a utility, jumped 13 percent to 1,307 yen. Marubeni Corp. (8002 JT), a trading company, climbed 2.3 percent to 539 yen. The companies are close to winning an order for a gas-fired combined-cycle power plant in Oman with a Qatari utility, the Nikkei newspaper reported.
Japan Tobacco Inc. (2914 JT), Asia’s largest-listed tobacco company by market capitalization, slid 2.3 percent to 296,000 yen. The share price target was cut to 370,000 yen from 380,000 yen by Nomura Holdings Inc., which maintained its “buy” rating on the stock.
Mitsubishi Chemical Holdings Corp. (4188 JT), a chemical products maker, gained 3.2 percent to 578 yen. The company received clearance by the U.S. Food and Drug Administration to the Pathfast cTnI-II diagnostic test, the company said.
TDK Corp. (6762 JT), the electronic component maker, advanced 3.3 percent to 4,430 yen. The company was raised to “outperform” from “neutral” by Credit Suisse Group AG. The share price estimate was lowered to 5,500 yen from 6,800 yen.
Tokyo Electric Power Co. (9501 JT), which is battling to contain a nuclear disaster, surged 25 percent to 249 yen. Japan will guarantee loans by banks to the third-party organization established to ensure Tokyo Electric Power can compensate victims of the march nuclear accident, said Financial Services Minister Shozaburo Jimi. The Tokyo Stock Exchange also raised the collateral needed for new margin trades to 50 percent from 20 percent.