Allright buy on open ??
Friday November 30, 3:46 PM
Tokyo stocks end slightly higher, MSCI eyed
sg.biz.yahoo.com
TOKYO, Nov 30 (Reuters) - Tokyo stocks ended modestly higher on Friday, led by gains in Canon Inc <7751.T> and other major technology issues following a surge by their U.S. peers.
But a dismal outlook for the Japanese economy, underscored by data showing the unemployment rate rose to a record 5.4 percent, and jitters over the reweighting of stock indices by Morgan Stanley Capital International (MSCI) kept rises in check.
"Investors were nervous throughout the day, unsure of where buying and selling related to the MSCI changes would take the market into the close," said Zenshiro Mizuno, general manager of equity trading at Marusan Securities.
The benchmark Nikkei average <.N225> closed 0.39 percent or 41.48 points higher at 10,697.44, a meagre gain compared to the 2.4 percent jump by the tech-stacked U.S. Nasdaq <.IXIC>, which the Nikkei often tracks.
The capital-weighted TOPIX index <.TOPX> added 0.16 percent or 1.72 points to 1,050.22, held back in part by a slide in the banking sector as the scope of banks' credit exposure to bankrupt-bound energy trader Enron Corp remained unclear.
Camera and copier maker Canon climbed 4.25 percent to 4,170 yen, reversing a 6.5 percent two-day skid and underlining a move by investors to cover short positions in the tech sector after a record gain in durable goods data for October sent Wall Street sharply higher.
Electronics manufacturer Sony Corp <6758.T>, which like Canon is heavily dependent on the U.S. economy for sales, ticked up 1.04 percent to 5,810 yen.
Trade was moderate with 730.17 million shares changing hands on the first section of the Tokyo Stock Exchange, down from Thursday's 859.76 million.
Decliners outnumbered gainers 822 to 502. |
