Japan Shares Swing as Investors Weigh Data on Inflation, Output

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Japanese shares fluctuated, with the Topix index headed for a weekly advance, as investors assessed data on inflation, industrial output and retail sales. Shippers rose while tiremakers fell.

The Topix added less than 0.1 percent to 1,421.54 as of 9:02 a.m. in Tokyo, after retreating as much as 0.1 percent. The measure is poised for a 0.9 percent gain this week. The Nikkei 225 Stock Average slipped 0.1 percent to 17,790.85 today. The yen dropped 0.2 percent to 120.39 per dollar after gaining 0.3 percent yesterday.

Japan™s inflation rate slowed for a fourth straight month, adding to central bank chief Haruhiko Kuroda™s challenges in reflating the world™s third-biggest economy. Consumer prices excluding fresh food rose 2.7 percent in November from a year earlier, the statistics bureau said today, down from 2.9 percent the previous month and matching the median projection of economists surveyed by Bloomberg.

Industrial production fell 0.6 percent in November from the previous month, data showed today. Analysts surveyed by Bloomberg had expected a 0.8 percent advance. Retail sales unexpectedly dropped 0.3 percent on the month.

Source : Bloomberg