Society

Foreign money pours into tech stocks to fuel Tokyo rally

Jun 02 (Nikkei) - The inflow of international funds into information technology and semiconductors powered the Nikkei Stock Average's recovery Friday to above 20,000. But the automotive and financial sectors are faltering, highlighting the gap between Japanese equities and their foreign peers.

International investors sold over 1 trillion yen ($9.05 billion) more in Japanese equities than they bought in the first three months of the year. They were then net purchasers for eight straight weeks through May 26 to the tune of 1.52 trillion yen.

The foreign money streaming in Friday was so overwhelming that "no matter how much was sold, prices wouldn't go down," a trading specialist at a major Japanese brokerage said.

IT and semiconductor stocks have been among the strongest year-to-date performers. Chipmaking equipment maker Tokyo Electron's share price has soared 48%, exploring territory not seen in 17 years. Smartphone game provider Mixi has rocketed 64%, while online retailer Start Today has surged 41%.

Among domestically focused components of the Nikkei average, food companies stand out. Frozen-food maker Nichirei has jumped 30%, and beverage group Kirin Holdings more than 20%. Price hikes across the market are improving margins in the sector, according to Pictet Asset Management (Japan).

Do Bears Prefer Acorns or Berries?

Bear sightings across Japan have already climbed to nearly twice the level recorded during the same period last year, prompting entry bans in mountain areas behind Kyoto’s Ninna-ji Temple and the cancellation of hiking events in Kansai, while new research suggests that the key to reducing encounters may lie in understanding what bears eat in each region.

Copper Thieves Target Japanese Shrines

Copper roofing panels were stolen from several shrines in Hamamatsu, Shizuoka Prefecture, including a city-designated cultural property, in the latest case amid a nationwide surge in copper thefts targeting shrines and temples across Japan, where soaring metal prices have fueled crimes that leave historic religious buildings damaged, exposed to the elements, and facing repair costs of millions of yen.

1200-Year-Old Temple on Miyajima Reduced to Ashes

Flames broke out on the morning of May 20th on Miyajima Island in Hiroshima Prefecture, home to one of Japan's World Heritage sites, destroying Reikado Hall near the summit of Mount Misen.

From Bento Boxes to Garbage Bags, Rising Costs Hitting Daily Life Across Japan

Uncertainty surrounding the situation in the Middle East is beginning to affect daily life in Japan, as concerns over crude oil supplies spread to restaurants, cleaning services and even household garbage disposal systems across the Kansai region.

Tochigi Robbery-Murder Suspect’s Wife Posted Dance Videos on Social Media

A 25-year-old woman arrested as a suspected ringleader in a robbery-murder case in Tochigi Prefecture once posted cheerful dance videos on social media and was remembered by those who knew her as an energetic and outgoing young woman.

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