Japan Blue-chip Stocks Edge Down, But Rakuten Rallies On Results

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Japan blue-chip stocks sagged at the open Friday despite a positive read from futures, as investors took money off the table following the previous day's rally, as the yen rebounded against the greenback. The Nikkei Stock Average was down 0.2%, off its opening low but still eating into a 1.9% gain Thursday, while the broader Topix edged up 0.1%, and the dollar was back down to �118.90 from �120.31 when Tokyo shares last closed. Among the decliners, Toshiba Corp. lost 1.2%, TDK Corp. retreated 1%, Kirin Holdings Co. fell 2.7%, and Toyota Motor Corp. edged down 0.2%. On the upside, Rakuten Inc. zoomed 3% higher after posting solid results for the quarter. Financials were mostly higher as well, with Sumitomo Mitsui Trust Holdings Inc. jumping 3.2% -- and parent Sumitomo Mitsui Financial Group Inc. leading the megabanks with a 1% climb -- after the Nikkei reported Sumitomo Mitsui Trust was in exclusive talks with Citigroup Inc. to buy its Japanese credit-card business. Tokyo-listed Citigroup shares were up 0.8%.

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