Japan Topix index swung between gains
and losses, after posting five days of advances, as carmakers climbed
while shippers and developers retreated.
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Toyota Motor Corp., the world’s
biggest carmaker, gained 0.8 percent even as the yen strengthened.
Nippon Suisan Kaisha Ltd. headed for its highest close in five years
after SMBC Nikko Securities Inc. boosted its rating on the
seafood-product maker.
 Gauges tracking non-ferrous metal
producers and real estate companies fell at least 0.4 percent for the
largest losses among the Topix’s 33 industry groups. Credit Saison Co.
sank the most on the Nikkei 225 Stock Average after Credit Suisse Group
AG cut its target price for the consumer lender.
The Topix gained 0.2 percent to
1,200.68 as of 12:48 p.m. in Tokyo after falling as much as 0.4 percent.
The measure rose 4.2 percent in the previous five days and is up 3.3
percent in May, poised for its first monthly advance this year. The
Nikkei 225 added 0.1 percent today to 14,690.16.
The Japanese gauge traded at 1.16
times book value at the last close, compared with 2.66 for the S&P
500 and 1.90 for the Stoxx Europe 600 Index. Volume on the Topix was
about 3.4 percent higher than the 30-day intraday average today.
Source : Bloomberg
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