Japanese Stocks Rise; Sony Reaches Highest in More Than 4 Years

Sony, the maker of the Playstation 3 game console, jumped 230 yen, or 3.8 percent, to 6,230, the highest close since July 9, 2002. Matsushita Electronic Industrial Co., which sells Panasonic-brand products, added 20 yen, or 0.9 percent, to 2,380. NEC Corp., the nation's largest personal-computer maker, climbed 20 yen, or 3.3 percent, to 627.

Koya Tabata, an analyst at Credit Suisse in Tokyo, raised his recommendation on the consumer electronics industry to ''overweight'' from ''market weight'' in a note to clients dated yesterday. Tabata named Sony as his top pick.

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calderra4897d ago

Er... how did Sony pull this one? Because they've declared the next-gen format war over? Or have the laptop batteries quit exploding at this point?

MikeGdaGod4897d ago

is guess you're trying to be funny. thank god the stock market doesn't rely on fanboys

MaximusPrime4897d ago

sony owns everything. no wonder that they are improving.

Of course, there was a slow start for PS3 but once PS3 releases in Europe, it will perform very well. Europe loves Sony.

timmyp534897d ago

..look around your house.

r10004897d ago

Yea i hear ya and agree...

but i bet there are some fanboys from the other side that probably refuse to buy sony products ...

Razzy4896d ago

lol...and probably refuse to see Sony movies. "Spiderman teh suxors!!"

highps34897d ago

Guess those thoughts of Sony doing horrible are out the Window...

Syko4897d ago

The 5.1 digital Reciever that powers my Sound is a Sony, Im surprised that it accepts a signal from my 360 considering how childish M$ and Sony can be. And I cant afford their TV's !

Let's see how the stock does after the Europe launch it might take a hit if they sit on the shelves after launch over there too.

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