Tokyo stocks inch up on US rally
By DPA, IANSTuesday, December 21, 2010
TOKYO - Japanese shares edged up in Wednesday morning trading, supported by a rally on Wall Street.
The benchmark Nikkei 225 Stock Average gained 5.95 points, or 0.06 percent, to trade at 10,376.48 while the broader Topix index was up 2.04 points, or 0.23 percent, to 908.25.
Overnight, major US stock indices closed at their highest levels in more than two years.
In Tokyo, investors sold shares to lock in quick gains the morning after the Nikkei soared 1.51 percent to a seven-month high Tuesday.
Japanese exports rose 9.1 percent in November from a year earlier to 5.44 trillion yen ($64.9 billion), the government said before the market opened.
Japan’s imports climbed 14.2 percent to 5.28 trillion yen, leaving the country’s trade surplus at 162.8 billion yen. The surplus plunged 55.4 percent from a year earlier, the first fall in three months, the government said.
On currency markets at 9 a.m. (0000 GMT), the dollar traded at 83.79-80 yen, little changed from Tuesday’s 5 p.m. quote of 83.73-74 yen.
The euro traded at $1.3090-3092, down from $1.3181-3182 Tuesday, and at 109.67-70 yen, down from 110.37-41 yen.
