Japan Stocks Reverse Opening Losses Despite Weak U.S. Cues

MarketWatch Pulse

Japan stocks reversed opening losses on Wednesday morning, despite the U.S. markets ending lower overnight. The Nikkei Average crept higher by 0.1%, with the broader Topix also up 0.1%. The yen , meanwhile, rose against the greenback to �116.89 from �117.01 a day earlier. Energy stocks were mixed, after international crude prices touched new lows, but ended the volatile session higher. Inpex Corporation improved by 2.9%, Showa Shell Sekiyu K.K. inched up 0.1%, while Japan Petroleum Exploration Co., Ltd. gave up 0.6%. Most auto makers gained, as Mazda Motor Corp. improved by 2%, and both Honda Motor Co. Ltd. and Nissan Motor Co., Ltd. inched up 0.1%. Among tech exporters, Tokyo Electron Ltd. climbed 2.2%, electronics maker Sharp Corporation gained 0.8%, and rival Hitachi, Ltd. tacked on 0.7%, while electronics component maker TDK Corporation fell 1.7%, electronics giant Fujitsu Ltd. dropped 0.5%, and domestic peer Toshiba Corporation was off 0.3%. In Australia, the S&P/ASX 200 headed up 0.4%, with the Aussie dollar little changed at 82.17 U.S. cents from 82.15 U.S. cents a day ago.

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