Nikkei edges higher, but banks and Hitachi weigh

Mon Nov 16, 2009 6:05am GMT
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TOKYO, Nov 16 (Reuters) - Japan's Nikkei stock average edged up 0.2 percent on Monday, buoyed by retailers and other defensive shares, but weighed by banks and companies such as Hitachi Ltd (6501.T: Quote, Profile, Research) that sank on fundraising concerns. Hitachi, Japan's biggest electronics firm by sales, fell 8.5 percent after saying it will raise up to $4.6 billion to shore up its capital, joining a scrum of Japanese firms tapping equity markets before a possible economic slowdown. [ID:nT155947] The benchmark Nikkei .N225 gained 20.87 points to 9,791.18, while the broader Topix .TOPX lost 0.7 percent to 860.42. (Reporting by Elaine Lies)

 
 

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