Gainers & Losers

Ebara Corp. led advancers in the Nikkei 225 index shares with a rise of 8.90%, in Oki Electric Industries of 6.97%, in Toho Zinc Co. of 3.62%, in Eisai Co. Ltd of 3.45%, and Japan Tobacco of 3.73%.

Sumitomo Chemical Co. led decliners in the Nikkei 225 index shares with a drop of 5.69%, in CSK Holdings Corp. of 5.43%, in Hino Motors Ltd. of 5.07% and Tosoh Corp. of 4.75%, and Mizuho Financial Group of 4.68%.

Hino Motors Ltd and other auto makers slumped after Nikko Citigroup Ltd. cut its rating on Nissan Motor Co. to ``sell'''' from ``buy,'''' citing a stronger yen, rising raw material costs and slowing sales in the U.S. to negatively impact profits.

The broker also cut its recommendation on Isuzu Motors Ltd. to ``hold'''' from ``buy.'''' Isuzu closed down 4.42%.

Tech stocks also fell after Texas Instruments forecasted that earnings in the second quarter will be negatively affected by the deteriorating economic conditions. Advantest Corp. fell 4%, Sharp declined 3.85% and Nikon Corp. tumbled 3.80%.

Sony declined after CLSA Asia- Pacific Markets lowered its rating on the stock to ``sell'''' from ``underperform,'''' and said that the current volatility in yen could hurt earnings.

Mizuho Trust & Banking declined 3.70% after a sharp decline in earnings at Bank of America.

Nomura under investigation for insider trading

The Nikkei news reported that an employee is being investigated by the Securities Exchanges and Surveillance Commission for insider trading. Nomura fell 2.46% on the news.