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Japan stocks mixed on stronger yen, bargain-hunting
Date : July 13, 2012
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Tokyo, Sha'ban 23, 1433, Jul 13, 2012, SPA -- Japanese shares were mixed Friday as export-oriented
issues were pulled down by the yen's strength against the euro, but
investors picked up cheap stocks after a six-day losing streak, according to dpa.

The benchmark Nikkei 225 Stock Average gained 4.11 points, or 0.05
per cent, to end at 8,724.12 while the broader-based Topix index was
down 1.15 points, or 0.15 per cent, at 746.34.

For the week, the Nikkei fell 3.29 per cent and the Topix was down
3.3 per cent.

Major exporters fell as the yen stood at the upper-96-yen level to
the euro. A strong yen makes Japanese exports more expensive abroad
and erodes repatriated earnings.

Shares in Ricoh Co plunged 4.89 per cent, Canon Inc shed 1.13 per
cent, Honda Motor Co fell 0.88 per cent and Toyota Motor Corp was
down 0.5 per cent.

On currency markets at 3 pm (0600 GMT), the dollar traded at
79.29-32 yen, little changed from Thursday's 5 pm quote of 79.26-28
yen.

The euro was quoted at 1.2200-2201 dollars, down from 1.2210-2211
dollars late Thursday, and at 96.73-76 yen, down slightly from
96.78-82 yen.
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