ID :
183279
Fri, 05/20/2011 - 07:31
Auther :
Shortlink :
http://m.oananews.org//node/183279
The shortlink copeid
Tokyo Stocks Rebound in Morning on U.S. Rise, Stable Yen
Tokyo, May 20 (Jiji Press)--Stocks bounced back moderately on the Tokyo Stock Exchange Friday morning, supported by an overnight ascent of U.S. equities and stability in exchange rates.
At the morning close, the 225-issue Nikkei average stood up 28.02 points, or 0.29 pct, at 9,648.84. On Thursday, the key market gauge fell 41.26 points.
The TOPIX index of all first-section issues was up 0.52 point, or 0.06 pct, at 832.41, after losing 6.07 points the previous day.
The Nikkei average overcame early weakness and popped into positive territory after the Dow Jones industrial average posted gains Thursday for the second straight day on the back of a decrease in the number of first-time jobless claims filed last week.
The yen's recent stable movements against the dollar and the euro also underpinned the market, brokers said.
But the Nikkei's upside was limited, reflecting a wait-and-see mood before the Bank of Japan's announcement of the outcome of its policy meeting and Tokyo Electric Power's release of its earnings report, both scheduled later on Friday.
According to a TSE report released Thursday, foreign investors remained net buyers of Japanese stocks for a record 28th straight week last week, while individual investors scored big net purchases.
"Foreigners and individuals are supporting the market by buying on dips, but there are no investors who are eager to buy aggressively in a rising market," said Kenichi Hirano, operating officer of Tachibana Securities Co.
The Nikkei is top-heavy because it is nearing the upper end of its recent trading range of 9,500-9,700, Hirano said.
"The market needs fresh positive news such as additional measures by the BOJ that can meet the expectations of the government and investors," he said.
Winners eclipsed losers 952 to 538 on the TSE's first section in the morning, while 159 issues were unchanged.
Half-day volume came to 811 million shares.
Some technology issues attracted buying, including Sony, Panasonic and Hitachi.
Also higher were automakers Honda and Mazda and drug makers Takeda and Daiichi Sankyo.
Banks were mixed. Mizuho and Mitsubishi UFJ rose, while Sumitomo Mitsui fell.
Tokyo Electric Power, the operator of the crippled Fukushima No. 1 nuclear power plant, ended the morning lower. The company is expected to log a group net loss of over one trillion yen for the year ended in March.
Other utilities like Kansai Electric Power also declined.
At the morning close, the 225-issue Nikkei average stood up 28.02 points, or 0.29 pct, at 9,648.84. On Thursday, the key market gauge fell 41.26 points.
The TOPIX index of all first-section issues was up 0.52 point, or 0.06 pct, at 832.41, after losing 6.07 points the previous day.
The Nikkei average overcame early weakness and popped into positive territory after the Dow Jones industrial average posted gains Thursday for the second straight day on the back of a decrease in the number of first-time jobless claims filed last week.
The yen's recent stable movements against the dollar and the euro also underpinned the market, brokers said.
But the Nikkei's upside was limited, reflecting a wait-and-see mood before the Bank of Japan's announcement of the outcome of its policy meeting and Tokyo Electric Power's release of its earnings report, both scheduled later on Friday.
According to a TSE report released Thursday, foreign investors remained net buyers of Japanese stocks for a record 28th straight week last week, while individual investors scored big net purchases.
"Foreigners and individuals are supporting the market by buying on dips, but there are no investors who are eager to buy aggressively in a rising market," said Kenichi Hirano, operating officer of Tachibana Securities Co.
The Nikkei is top-heavy because it is nearing the upper end of its recent trading range of 9,500-9,700, Hirano said.
"The market needs fresh positive news such as additional measures by the BOJ that can meet the expectations of the government and investors," he said.
Winners eclipsed losers 952 to 538 on the TSE's first section in the morning, while 159 issues were unchanged.
Half-day volume came to 811 million shares.
Some technology issues attracted buying, including Sony, Panasonic and Hitachi.
Also higher were automakers Honda and Mazda and drug makers Takeda and Daiichi Sankyo.
Banks were mixed. Mizuho and Mitsubishi UFJ rose, while Sumitomo Mitsui fell.
Tokyo Electric Power, the operator of the crippled Fukushima No. 1 nuclear power plant, ended the morning lower. The company is expected to log a group net loss of over one trillion yen for the year ended in March.
Other utilities like Kansai Electric Power also declined.
