RTTNews - Japan stocks are poised for a mixed to higher open on Thursday, despite losses on Wall Street overnight. Continued economic recovery concerns weighed on U.S. stocks.
Japan stocks were mildly higher on Wednesday after a session of low volume trading.
The benchmark Nikkei 225 Average advanced 25.98 points or 0.26 percent to 10.113.24.
Among the Nikkei component stocks, there were 89 closing higher, 124 were lower and 12 ended unchanged.
The broader Topix index was higher by a fraction of a point, posting a close at 930.36.
A report of a higher first-half loss sent Nippon Steel shares lower, ending down 13 yen or 3.45 percent. Elsewhere in the steel sector, JFE Holdings was up 150 yen or 4.23 percent, Kobe Steel was down 2 yen or 1.10 percent and Sumitomo Metal Industries was down 3 yen or 1.17 percent.
Shares of Yahoo Japan climbed 2,150x yen or 6.95 percent after the company forecast higher earnings and reports circulated on a search engine agreement with Microsoft.
The shipping companies were lower, with Mitsui OSK Lines down 24 yen or 4.04 percent, Kawasaki Kisen Kaisha down 9 yen or 2.49 percent and Nippon Yusen down 11 yen or 2.74 percent.
Overseas, ongoing concern about the direction of the economy sent U.S. stocks lower. The Federal Reserve's Beige Book report also indicated economic activity remained weak in most areas, but showed signs of stabilization or improvement.
At the closing bell on Wall Street, the Dow Jones Industrial Average was down 26.00 points or 0.29 percent at 9,070.72, the Nasdaq Composite index was lower by 7.75 points or 0.39 percent at 1,967.76 and the Standard & Poor's 500 index was down 4.47 points or 0.46 percent at 975.15.
All of the major markets in the Asia/Pacific region closed lower on Wednesday except Japan's.
Hong Kong's Hang Seng index was down 489.04 points or 2.37 percent at 20,135.50.
China's Shanghai Composite index dropped 171.94 points or 5.00 percent to 3,266.43.
The BSE 30 index in India was down 158.48 points or 1.03 percent to 15,173.46.
In Indonesia, the Jakarta Composite index was down 11.29 points or 0.50 percent at 2.225.01.
South Korea's KOSPI/Seoul Composite index was down 1.71 points or 0.11 percent at 1,524.32.
The Taiwan Weighted Index was down 59.00 points or 0.83 percent at 7,083.63.
On Thursday's economic calendar, Japan is scheduled to release preliminary June numbers for industrial production. Also due are vehicle production numbers for June, following an annual 41.4 percent decline in May.
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