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Japanese stocks climb in early trading; dollar higher vs. yen

Japanese stocks climb in early trading; dollar higher vs. yen

Japanese stocks edged higher in early trading Wednesday, regaining their footing after retreating from a four-day rally. The dollar was higher against the yen.
The benchmark Nikkei 225 index rose 50.63 points, or 0.31 percent, to 16,292.72 points shortly after the open of the Tokyo Stock Exchange.
The broader Topix index, which includes all shares on the exchange's first section, added 3.52 points, or 0.22 percent, to 1,621.36.
On Tuesday, the Nikkei fell 0.07 percent, as investors took a breather from the market's 4.5 percent rise over the preceding four sessions.
Investors will be watching Sony on Wednesday to see how it's shares react. The stock dropped 2.75 percent to 4,600 yen (US$38.98) the session before after U.S. investment firm Goldman Sachs Group Inc. lowered the stock rating of the electronics maker to "neutral" from "buy," citing confusion over the release of PlayStation 3.
It also cited disappointing sales of PlayStation Portable may weigh on its earnings in electronics operations more heavily than expected.
Also clouding the picture may be market turbulence from North Korea's announcement that it plans to conduct a nuclear test in the face of a U.S. "threat."
In currencies, the U.S. dollar was trading at 118.05 yen on the Tokyo foreign exchange market at 9 a.m. (0000 GMT) Wednesday, up from 117.89 yen from late Tuesday in New York. The euro climbed to US$1.2734, from US$1.2727.
The yield on Japan's 10-year government bond rose to 1.7000 percent, from Tuesday's finish of 1.6950 percent. Its price fell to 100.00 from 100.04.


Updated : 2021-05-16 17:39 GMT+08:00