Nikkei lifted by Fed minutes, but stronger yen clouds outlook

miércoles 8 de octubre de 2014 22:07 GYT

* Nikkei up on dovish Fed statement
    * Yen strengthens against dollar, some exporters hurt
    * Trading houses suffer as energy prices fall

    By Thomas Wilson
    TOKYO, Oct 9 (Reuters) - Japan's Nikkei share average rose
on Thursday after the Federal Reserve said it would not lift
interest rates until the U.S. economy was sufficiently strong,
though a resurgent yen dented optimism on profit outlook.
    Wall Street shares posted their biggest gains so far this
year as investors scaled back expectations of U.S. rate hikes
after minutes from the Fed's last policy meeting showed
officials were concerned with a stronger dollar and a global
    The minutes were a mixed blessing for Japanese share markets
as they helped to support the yen near three-week highs, vexing
investors in Japanese export stocks. The yen traded at 108.16
yen per dollar, not far from a three-week high of 107.75
hit on Thursday.
    "Fed officials have concerns on the impact of a strong
dollar, which undermines the scenario held by some that Japanese
shares will benefit from further strength in the dollar against
the yen," said Masayuki Doshida, senior market analyst at
Rakuten Securities
    The Nikkei rose 0.3 percent to 15,650.96 in morning
trade, much smaller gains compared with a 1.7 percent rise in
the U.S. S&P 500 Index on Wednesday.
    The broader Topix index fared even worse, trading
almost flat on the day.
    Outperforming the market was the real estate sector
 on Tokyo Stock Exchange's subindex, up 0.8 percent.
Mitsui Fudosan rose 1.9 percent.
    Clothes brand Uniqlo owner Fast Retailing Co Ltd 
also outpaced the Nikkei, rising 2.6 percent, ahead of their
announcement of yearly earnings later in the day.
    That helped to boost the Nikkei as the company has a heavy
weight in the Nikkei.
    On the other hand, some exporter shares fell with Canon Inc
 down 1.0 percent. Trading houses also declined as oil
prices have fallen to their lowest levels in around two years.
    Mitsubishi Corp fell 1.1 percent while Mitsui Co
Ltd fell 0.9 percent.
    The new JPX-Nikkei Index 400 was also down 0.1

 (Reporting by Thomas Wilson and Hideyuki Sano; Editing by
Jacqueline Wong)