Business News
Japanese stocks sluggish in morning trade
Dec 28, 2011, 3:18 GMT
Tokyo - Japanese stocks were sluggish in Wednesday morning trade.
The benchmark Nikkei 225 Stock Average lost 4.32 points, or 0.05 per cent, to 8,436.24 by the midday break at 11:30 am (0230 GMT).
The broader Topix index fell 1.43 points, or 0.20 per cent, to trade at 722.82.
There was little market reaction to news that industrial production dropped a seasonally adjusted 2.6 per cent in November from the previous month. Analysts put lack of reaction down to manufacturers saying they expected output to rise 4.8 per cent in December and 3.4 per cent the following month.
On currency markets at 11:30 am, the euro was quoted at 101.65-70 yen, down from 101.84-88 late Tuesday, and at 1.3066-68 dollars, down slightly from 1.3071-73 dollars.
The dollar traded at 77.80-82 yen, down from 77.91-92 yen late Tuesday.
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