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Tokyo stocks close mixed ahead of key U.S. jobs data
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17:55, August 07, 2009

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Tokyo stocks closed mixed Friday as investors refrained from active buying and sold gainers before the weekend ahead of key U.S. jobs data.

The benchmark Nikkei 225 Average advanced 24.00 points, or 0.23 percent, to 10,412.09.

The broader Topix index dipped 0.75 point, or 0.08 percent, to 956.76.

Gainers were led by textiles, pulp and paper, and electrical machinery issues while consumer finance, mining and precision machinery issues were among the decliners.

"Investors who started the day by selling stock futures, expecting a slow trading day ahead of key U.S. jobs data, bought them back going into the close," Mitsuo Shimizu, deputy general manager of the sales promoting department at Cosmo Securities, was quoted as saying.

"Generally speaking, the upward trend will likely continue, backed by signs of a steady recovery in the economy, though I expect some pauses along the way."

Synthetic fiber maker Toray Industries surged 7.3 percent to 515 yen after raising its first-half operating forecast due to deeper cost cuts.

Printer maker Konica Minolta plunged 10.1 percent to 891 yen. For the three months to June, the company recorded an operating loss of 589 million yen, compared with a 24.5 billion yen profit a year earlier.

On the First Section, declining issues outnumbered advancing issues 903 to 624, with 163 others remaining unchanged.

Value leader Sumitomo Mitsui Financial Group shed 50 yen, or over 1 percent, to 3,970 yen while volume leader Mizuho Financial Group lost 1 yen, or about half a percent, to 225 yen.

Trading volume on the main section contracted to 1,896.83 million shares from 1,971.80 million Thursday.

The TSE's Second Section index dropped 8.46 points, or 0.38 percent, to 2,247.10 on a volume of 47.48 million shares.

On the Osaka Securities Exchange, the near-term September Nikkei 225 index futures contract rose 20 points to 10,420.

Source: Xinhua



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