Quoted from RTTNews - Global Market News, Asian Market Update, Market & Sectors, Forex Audio News....
Japanese Stocks Close Mixed Ahead Of Rate Decision
10/30/2007 5:57:26 AM Tuesday, Tokyo shares closed mixed as investors lock in profits ahead of the U.S. Federal Reserve's and Bank of Japan's rate decisions. The Nikkei 225 Stock Average closed down 47.07 points or 0.3% at 16,651.01, recovering from the day's low of 16,492.56. The broader TOPIX index edged up 0.72 point to 1,607.21.
At around 6:13 p.m. local time, the dollar was quoted at 114.65-114.66 yen, up 0.47 yen from Monday's 5:00 p.m. quotes of 114.18-114.20.
On the economic front, the seasonally adjusted unemployment rate rose by 0.2 percentage point to 4.0% in September from the previous month. The number of jobless people totaled 2.69 million. Meanwhile, average monthly spending per Japanese household climbed a real 3.2% in September from a year earlier to 281,448 yen, a government report indicated.
Mitsubishi Motors rose 2.0% after it posted an operating profit in the fiscal first half to September, while Yamaha Motor gained 1.6% after it reported a 13% increase in net profit for the first nine months. Among other automakers, Nissan Motor added 0.6%, Mazda Motor jumped 2.3% and Suzuki Motor advanced 1.7%. But Toyota fell 0.3%.
Nippon Steel slipped 1.3% despite posting a 7.5% growth in fiscal first-half net profit. Kobe Steel shed 1.0% after its first-half net profit fell 8.8%.
Oil stocks surged after crude prices rose to record highs. Nippon Oil rose 1.6%, Nippon Mining Holdings gained 0.3%, and Showa Shell Sekiyu KK advanced 1.73%.
Among banks, Mitsubishi UFJ Financial Group climbed 1.8%, Sumitomo Mitsui Financial Group added 0.3%, and Resona Holdings surged 2.6%. Mizuho Financial Group lost 0.3%.
Gainers among high tech stocks included Fujitsu 0.2%, Matsushita Electric Industrial 1.4%, and NEC 0.9%. Losers in the sector included Advantest 3.4%, Tokyo Electron 0.6%, Kyocera 0.1%, Fanuc 1.9%, and Sony 1.4%.
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