Friday, December 30, 2011

U.S. data lifts Nikkei; 25-day moving average eyed

TOKYO (Dec 30): Japan's Nikkei stock average advanced on Friday after upbeat economic data from the United States, though it is still on track for double-digit losses this year -- the second straight year of decline and the worst since 2008.

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The Nikkei was up 0.5 percent at 8,440.67, while the broader Topix gained 0.4 percent to 724.83.

For the year, the Nikkei has lost 17.5 percent and the Topix is down more than 19 percent, partly hit by the triple disaster of earthquake, tsunami and nuclear crisis, and a strong yen.

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That compares with a 0.4 percent gain in the S&P 500 and a 11.5 percent decline in Europe's FTSEurofirst 300.

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