Nikkei rises on gains in Wall Street; Yahoo Japan soars

lunes 19 de mayo de 2014 22:05 GYT
 

* Gains limited as market eyes on BOJ
    * Yahoo Japan jumps on dropping plan to buy eAccess
    * Kubota down on Thai martial law news

    By Ayai Tomisawa
    TOKYO, May 20 (Reuters) - Japan's Nikkei share average rose
on Tuesday morning, snapping a four-day losing streak supported
by gains in Wall Street, while Yahoo Japan Corp soared
after dropping its plan to buy mobile network operator eAccess
Ltd from SoftBank Corp.
    However, gains were limited by expectations that the Bank Of
Japan may not ease policy further any time soon. 
    The BOJ is widely expected to keep policy unchanged at a
two-day policy meeting starting on Tuesday, with traders now
looking to central bank Governor Haruhiko Kuroda's news
conference after the meeting for clues on direction.
    The Nikkei rose 0.5 percent to 14,073.46 Points by
mid-morning , after falling 0.6 percent on Monday.
    "Investors are staying on the sidelines before they hear
comments by Kuroda," said Takuya Takahashi, a strategist at
Daiwa Securities. "Unless he says something that surprises the
market, investors will shrug off the event itself."
    Yahoo jumped 14.6 percent at one point to a two-week high
after saying it will proceed with a planned low-cost mobile
Internet service using the eAccess mobile network.
 
    Investors continued to monitor developments in Thailand,
following news the army had declared martial law after six
months of anti-government protests, but traders said Japanese
companies which have large exposure to Thailand may be pressured
for the time being.
    Tractor maker Kubota Corp dropped 2.5 percent.
    The declaration of martial law was intended to restore peace
and order and does not constitute a coup, deputy army spokesman
Colonel Winthai Suvari told Reuters. 
    Exporters were mixed after the dollar traded at 101.48 yen
, a day after falling to 101.10 yen, its lowest level
since early February.
    Honda Motor Co added 0.9 percent, Panasonic Corp
 dropped 1.1 percent and Canon Inc gaining 0.6
percent.
    The broader Topix gained 0.2 percent to 1,152.76,
while the new JPX-Nikkei Index 400 gained 0.3
percent to 10,518.02.
    

 (Editing by Kim Coghill)