Tokyo edges up

Press, 14 September 1988, Page 37

Tokyo edges up

NZPA-Reuter Tokyo Tokyo share ■ prices closed slightly higher yesterday after a fluctuating session that saw an initial spurt giving in to some profit-taking, brokers said. “Volume began to warm up, but investors want to wait and see what the ' American trade figures will be on Wednesday,” said Masaharu Sakudo, managing director of Tachibana Securities Company, Ltd. The Nikkei index firmed 37.42 points, or 0.13 per cent, to 27,794.16. It gained 109.64 points on Monday. Rises led falls 1.3 to one in brisk turnover of 850 M shares. Securities house, communications, real estate, non-life insurance, bank, warehouse, railway/bus, rubber, auto and electrical shares led the risers. ' \ Oil, pulp/paper, mining, pharmaceutical, steel, gas, trucking, chemical, fish-

ery and non-ferrous metal shares led the decliners. The index rose by as much as 157.50 points to 27,914.24 in early trade, with buying focused on large capital steels and shipbuilders. But the index fell to a low of 27,711.11 on broadbased profit-taking just before the morning close. Some buying filtered back into the afternoon session .as investors picked up high technology issues and some communications and financials. News late Monday of a narrowing of Japan’s trade surplus in August did not affect the market as the dollar rose only slightly overseas oh the news, brokers said. They are instead waiting for the U.S. July trade deficit, expected to be between SUSII billion and SUSI2 billion compared with SUSS4 billion in June.