Japan
Topix index swung to a gain in the final minute of trading, capping the
first monthly increase this year, as tiremakers and power producers
climbed.
Tokyo
Electric Power Co. surged as much as 14 percent on a report the
government is considering revising the law for compensation after
nuclear accidents. Bridgestone Corp., Asia��s biggest manufacturer of
tires, added 1.7 percent. Credit Saison Co. extended yesterday��s slump
after Credit Suisse Group AG cut its target price for the consumer
lender.
The
Topix added less than 0.1 percent to 1,201.41 at the close in Tokyo
after rising as much as 0.4 percent and dropping 0.2 percent. An equal
numbers of shares rose as fell. The measure posted a 3.4 percent gain
this month, its first since December. The Nikkei 225 Stock Average today
dropped 0.3 percent to 14,632.38. A report today showed inflation
accelerated in April following an increase in Japan��s consumption levy.
Japan��s
consumer prices gained the most since 1991, swelled by the levy
increase and the Bank of Japan��s unprecedented stimulus. Inflation
excluding fresh food accelerated to 3.2 percent year on year in April,
the statistics bureau reported, compared with the 3.1 percent median
estimate of 32 economists in a Bloomberg News survey.
Industrial
production fell 2.5 percent in April compared with the previous month,
more than the 2 percent decline estimated by economists.
Copy Source: Bloomberg
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