Japanese stock market today july 13 2011, Nikkei 225 index falling : Despite a negative lead from Wall Street, the Japanese stock market is trading modestly higher on Wednesday with investors picking up some front line stocks after two days of sharp losses.
The market opened on a negative note with the benchmark Nikkei 225 index falling to around 9,877 following the dollar's decline against the yen, but rebounded swiftly on some hectic buying at lower levels.
Electric power, oil, pharmaceuticals, retail and trading firms stocks are mostly trading in positive territory. Steel, pulp, insurance and marine transport stocks are trading weak.
The Nikkei 225 index, which rose to 9,971 after an initial setback, is currently trading at 9,944.2, up 17.3 points or 0.2 percent over its previous close.
Hitachi Zosen is up nearly 2.5 percent and Alps Electric is trading 2.4 percent up. Marui Group, Mitsui & Co., Yamato Holdings, Inpex, Shionogi, Tokyu Land, NTT Data, Sumitomo Heavy Industries, Sojitz, JX HD and East Japan Railway are also trading notably higher.
Bank of Yokohama, Yahoo Japan, Nippon Soda, Mitsubishi Paper, Kobe Steel and Fujitsu are among the other prominent gainers.
Nikon Corp., Tokyo Electric Power and Taiyo Yuden are down 2.2 to 3 percent. Yokogawa Electric, Mizuho Trust & Banking, Mizuho Trust & Banking, Chiyoda, Minebea, Ricoh and Nippon Electric Glass are also down with notable losses.
In the currency market, the U.S. dollar traded at the mid-79 yen level in early trades in Tokyo. The yen is currently trading at 79.46 to the dollar.
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