Nikkei edges down before BOJ; Fujifilm extends gains on Ebola cure hopes

lunes 6 de octubre de 2014 21:51 GYT

* Market speculates BOJ governor may face pressure from
politicians to ease more - analyst
    * Fujifilm soars after French and Guinean governments
consider clinical trials

    By Ayai Tomisawa
    TOKYO, Oct 7 (Reuters) - Japanese stocks edged down on
Tuesday morning after a weak performance on Wall Street, and as
investors remained reluctant to chase the market higher ahead of
the Bank Of Japan's policy meeting and the governor's speech
    The central bank is likely to maintain its massive monetary
stimulus and offer a bleaker view on factory
    The Nikkei share average dropped 0.1 percent to
15,871.27 in midmorning trade after rising 1.2 percent on the
previous day.
    BOJ Governor Haruhiko Kuroda will appear in parliament
before the upper house budget committee on the same day from
around 10:20 a.m. to 11:40 a.m. (0120 to 0240 GMT), a
parliamentary source said.
    "This is a rare case in which the BOJ governor appears at
the parliament on the day when its policy meeting is held. There
is speculation that the governor may be pressured (for
additional easing) by politicians," said Hikaru Sato, a senior
technical analyst at Daiwa Securities. "The market is taking a
wait-and-see stance." 
    Fujifilm Holdings Corp stood out, outperforming the
market and extending its prior day gains - up 7.8 percent at
3,774.0 yen, the highest level since June 2008.
    The company said on Monday the French and Guinean
governments are considering clinical trials using its influenza
drug Favipiravir developed by its group firm Toyama Chemical Co.
to treat patients infected with the Ebola virus. 
    "I started buying the stock when the news about the first
patient in the U.S. came out," said a fund manager at a Japanese
asset management firm, tipping more upside toward 5,500 yen. 
    "If a panic spreads to other regions, it could hurt the
global economy.  I would keep Fujifilm among our top picks," he
    Exporters were mixed, with Toyota Motor Corp 
gaining 0.5 percent, Honda Motor Co adding 0.1 percent
and Toshiba Corp shedding 2.8 percent.
    The broader Topix rose 0.2 percent to 1,299.22, and
the JPX-Nikkei Index 400 added 0.2 percent to

 (Editing by Shri Navaratnam)