Nikkei up slightly in cautious trade before key central bank meetings

lunes 19 de octubre de 2015 22:15 GYT
 

* KDDI contributes hefty positive points to Nikkei after upgrade

* Key meetings of central banks keep investors cautious

* Takata falls after U.S. regulator signals expanded recall probe

By Ayai Tomisawa

TOKYO, Oct 20 (Reuters) - Japanese stocks were higher on Tuesday morning led by the telecom sector but gains were capped as investors remained cautious before key events expected through this week until month-end.

KDDI Corp soared 5.8 percent and contributed a hefty positive 36 points to the Nikkei benchmark after Deutsche Securities hiked its rating to 'buy' from 'hold', saying that the stock is oversold after dropping 20 percent from its August peak.

Interest in KDDI appeared to spillover to rival NTT Docomo Inc, which rose 3.0 percent.

The Nikkei gained 0.4 percent to 18,209.65 in midmorning trade after shedding 0.9 percent on Monday.

Traders said that investors are adopting a cautious approach before key policy meetings of developed country central banks. The European Central Bank's policy meeting is scheduled this Thursday, followed by the U.S. Federal Reserve's policy review on Oct. 27-28 and the Bank Of Japan's policy meeting on Oct. 30.   Continuación...