By Myra P. Saefong
TOKYO (MarketWatch) -- Japanese shares edged higher Wednesday morning in Tokyo with financial stocks among the bigger gainers after modest strength in U.S. stocks overnight. The Nikkei 225 Average was up 0.2% at 11,305.82 while the broader Topix was up 0.4% at 994.51. Among the financials, shares of Mizuho Trust & Banking Co. Ltd. (JP:8404 94.00, 0.00, 0.00%) (MZATF 1.00, +0.01, +0.54%) added 4.3% and Sumitomo Mitsui Financial Group Inc. (JP:8316 3,130, +35.00, +1.13%) (SMFNF 32.25, -32.25, -50.00%) rose 3.4%. Some exporters saw their stock pull back as the U.S. dollar weakened slightly against the yen. Pioneer Corp. (JP:6773 364.00, -4.00, -1.09%) (PNCOF 3.83, +0.23, +6.39%) fell 1.1% and NEC Corp. (JP:6701 282.00, -8.00, -2.76%) (NIPNF 2.40, -0.70, -22.58%) lost 0.7%. Sony Corp. (JP:6758 3,515, -90.00, -2.50%) (SNE 37.42, -1.15, -2.98%) fell 1.4% after Citigroup cut its rating on the stock to hold, according to Dow Jones Newswires. Elsewhere, South Korea's Kospi fell 0.1%. |
