MARKET TALK: Sumitomo Metal Mining Tops Y3,000; Rise May Slow

Sumitomo Metal Mining (5713.TO) tops Y3,000 for first time since listing. Shares in nonferrous metal firm briefly rise to Y3,050 but may not revisit that level as issue starting to look overheated, says official at local brokerage; issue now up 2.2% at Y3,000. Investors buying issue after Pacific Metals (5541.TO) Friday reported strong last FY results thanks to higher nickel prices, says senior official at Mitsubishi UFJ Securities; Sumitomo Metal Mining also produces nickel.