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Stocks Closing UPDATE1(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, June 18 -- (Kyodo) _ (EDS: ADDING DETAILS, PRICES) Tokyo stocks ended mixed Tuesday in directionless trading as investors adopted a wait-and-see mood ahead of the closely watched outcome of the Federal Open Market Committee meeting. The 225-issue Nikkei Stock Average closed down 25.84 points, or 0.20 percent, from Monday at 13,007.28, but the broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 1.68 points, or 0.15 percent, at 1,086.40. Decliners were led by textiles, land transport and pharmaceutical issues while gainers included sea transport, mining and insurance firms. Trading volume on the main section decreased from Monday's 2,504.30 million shares to 2,434.80 million shares, the lowest figure for 2013. "Trading was very thin and directionless as players refrained from taking positions," while waiting for the outcome of the two-day FOMC meeting through Wednesday as well as remarks by Federal Reserve Chairman Ben Bernanke, said Yutaka Miura, a senior technical analyst at Mizuho Securities Co. In early morning trading, the Nikkei briefly gained more than 100 points to well over the 13,000 line, tracing overnight gains on Wall Street following the releases of better-than-expected data for housing sentiment and for the Empire State manufacturing index, both for June, brokers said. However, the blue-chip index soon moved into negative territory as players sought to lock in recent sharp gains, brokers said. At one stage, "shares came under selling pressure since the Nikkei surged nearly 350 points yesterday," said Tsutomu Yamada, market analyst at kabu.com Securities Co. But he said the fall was limited as expectations are mounting that Bernanke may say something to ease market jitters. "I do not think the U.S. economy is strong to the extent the Fed can start scaling back its stimulus program soon. If the central bank decides to maintain credit easing for a while, that would generate a sense of relief," he added. Pharmaceutical issues faced profit-taking with Astellas Pharma falling 75 yen, or 1.5 percent, to 4,840 yen and Takeda Pharmaceutical dropping 70 yen, or 1.6 percent, to 4,350 yen. Sony soared 86 yen, or 4.4 percent, to 2,036 yen following news reports that U.S. hedge fund Third Point LLC has increased its stake in the Japanese electronics firm. The hedge fund has suggested that Sony spin off its lucrative entertainment division. Real estate developers enjoyed gains a day after logging sharp plunges, with Tokyo Tatemono soaring 40 yen, or 5.4 percent, to 778 yen and Nomura Real Estate climbing 73 yen, or 3.5 percent, to 2,151 yen. Heavy electric machinery maker IHI gained 6 yen, or 1.7 percent, to 364 yen on news reports that the company will collaborate with General Electric Co. in developing a next-generation jet engine. Falling issues outnumbered rising ones 813 to 775 on the First Section, while 123 remained unchanged. (c) 2013 Kyodo News International, Inc. |