DJ UPDATE:Tokyo Shares End Higher; Shipping, Tech Shares Gain

Tokyo stocks rose slightly Friday as recent decliners such as marine transport shares recovered and short-covering pushed up high tech shares.

Market analysts say that lower crude oil prices and a weaker yen will probably support sentiment, keeping the Nikkei 225 Stock Average above the 13000 mark next week. The benchmark index rose 62.61 points, or 0.5%, to 13019.41 Friday, almost wiping out the 66.25-point loss it posted a day earlier.

"Trading volume may also rise since many investors are expected to return from summer holidays," said Masaru Ohnishi, strategist at JPMorgan. He added that investors are keeping an eye on such economic indicators as the U.S. July new home data as well as the U.S. producer price index due out next week.

REKLAMA	Czytaj dalej

Shipping shares extended their gains from yesterday as investors took heart from the rising baltic dry index. Kawasaki Kisen gained 4.9% to Y809.

Chip shares were also Friday's notable gainers, with Elpida Memory rising 6.3% to Y2,795 and Tokyo Electron adding 3.4% to Y6,340 on a weaker yen and strength in the Philly Semicon Index.

On the other hand, trading houses, whose business largely depend on raw material prices, declined on an overnight drop in crude futures. Mitsubishi Corp. fell 2.3% to Y2,790, while Mitsui & Co. lost 2.4% to Y1,766.

"Recent movements of trading house shares seem to be pegged to crude prices," said a senior official at SMBC Friend Research Center.

In other Japanese markets, shares traded on the Osaka Securities Exchange added 28.28 points, or 0.1%, to 24036.03, while shares traded on the Jasdaq Securities Exchange fell 2.20 points, or 0.2%, to 1384.40.

The Topix index of all the Tokyo Stock Exchange First Section issues rose 8.38 points, or 0.7%, to 1247.31.