Business News
LEAD: Japan stocks mixed on profit-taking, optimism for US economy
Jan 23, 2012, 6:49 GMT
Tokyo - Japanese shares were mixed Monday as investors sold stocks to lock in immediate profits after recent gains, but sentiment was lifted by hope for the US economy.
The benchmark Nikkei 225 Stock Average lost 0.46 points, or 0.01 per cent, to end at 8,765.9. The Nikkei rose 3.13 per cent last week.
The broader Topix index was up 1.32 points, or 0.17 per cent, at 756.79.
Investors were encouraged after the Dow Jones Industrial Average climbed 0.76 per cent Friday following better-than-expected quarterly earnings released by IBM Corp and Microsoft Corp the day before. The US is a major market for export-reliant Japan.
Olympus Corp surged 8.17 per cent after Tokyo Stock Exchange Inc decided Friday to keep the company's shares listed on the market.
In November, the bourse moved the company's shares on to its watch list for possible delisting following the revelation of the cover-up of investment losses.
On currency markets at 3 pm (0600 GMT), the dollar traded at 77.04-05 yen, down from Friday's 5 pm quote of 77.20-21 yen.
The euro was quoted at 99.33-34 yen, down from 100.12-13 yen late Friday, and at 1.2893-2897 dollars, down from 1.2967-2970 dollars.
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