MW: Japan shares range-bound in early trade, pre-data
By Myra P. Saefong
TOKYO (MarketWatch) -- Japanese shares traded nearly unchanged Monday morning in Tokyo, finding little support ahead of a slew of key economic data this week, including unemployment and industrial output. The Nikkei Stock Average was almost flat at 9,733.59 and the broader Topix was at 865.24, down 0.2%. Technology and financial shares were among the decliners, with Elpida Memory Inc. (JP:6665 1,308, -93.00, -6.64%) (ELPDF 17.45, -0.70, -3.86%) losing 2.5% and Mizuho Financial Group Inc. (JP:8411 149.00, -4.00, -2.61%) (MZHOF 1.68, -0.05, -2.89%) down 2%. Mizuho Financial announced plans Friday to raise up to 857.6 billion yen ($9.6 billion) through a new share issuance. Pharmaceuticals shares inched higher as traders favored defensive plays. Shares of Dainippon Sumitomo Pharma Co. Ltd. (JP:4506 702.00, +2.00, +0.29%) (DNPUF 7.60, -0.50, -6.17%) added 1.1% and Astellas Pharma Inc. (JP:4503 3,055, +15.00, +0.49%) (ALPMF 33.51, +0.41, +1.23%) rose 1.8%. Elsewhere, South Korea's Kospi declined 0.1%.
