Nikkei edges up in choppy trade ahead of BOJ meeting
By Joshua Hunt
TOKYO Oct 29 (Reuters) - Japanese stocks edged up in choppy trade on Thursday after solid industrial output data helped tame expectations for further easing when the Bank of Japan meets on Friday.
The Nikkei share average gained 0.2 percent to close at 18,935.71.
Traders said sentiment was helped by data showing Japan's industrial output rose 1 percent in September, and by the U.S. Federal Reserve's downplaying of recent global market turmoil in its Wednesday meeting.
But trading remained thin as many investors stayed on the sidelines ahead of Friday's BOJ policy meeting.
Nintendo Co shares tumbled 9 percent after chief executive Tatsumi Kimishima announced the company would delay the launch of its smartphone-based video game service.
Nintendo's mobile gaming partner, DeNA Co, saw its shares plummet 14.9 percent.
Japan's securities sector shed 2.3 percent, weighed down by Nomura Holdings and Daiwa Securities Group, which reported weaker-than-expected July-September profits and slipped 2.9 percent and 2.7 percent, respectively.
The Topix subindex for pharmaceuticals gained 1.3 percent as cautious investors bought into defensive shares. Precision instruments added 3.1 percent, lifted by Hoya Corp, which climbed 6.9 percent after announcing a rise in quarterly profits and a plan to buy back 14 million shares.
The broader Topix remained flat at 1,547.11 and the JPX-Nikkei Index 400 rose 0.1 percent to 13,888.86. (Reporting by Joshua Hunt and Ayai Tomisawa; Editing by Richard Borsuk)
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