Japanese
stocks fluctuated, with the Topix index trading near a seven-year high,
as the yen rose and investors weighed a report the central bank views
further monetary easing as counterproductive for now.
The
Topix index added 0.1 percent to 1,450.57 as of 9:06 a.m. in Tokyo,
swinging from a loss of 0.1 percent. The measure is heading for a fourth
straight weekly gain after it closed yesterday at the highest since
December 2007. The Nikkei 225 Stock Average lost 0.3 percent to
17,923.93. The yen added 0.2 percent to 118.93 per dollar after
strengthening 1.1 percent on Thursday, its steepest one-day jump since
Dec. 16.
The
yen rose after remarks by people familiar with central bankers™ talks
indicated a possible shift in thinking among some BOJ officials after
the yen™s 22 percent tumble since they began unprecedented easing almost
two years ago.
Futures
on the Standard & Poor™s 500 Index lost 0.1 percent after the
underlying gauge rose 1 percent yesterday to close within three points
of a record high as optimism over a Ukraine cease-fire agreement boosted
risk appetite. Cisco Systems Inc. drove U.S. stock gains after it
joined the 76 percent of S&P 500 members that have beat analysts™
earnings estimates this season.
Source : Bloomberg
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