Japanese stock market Wednesday july 6 2011, Nikkei 225 index rose

Japanese stock market Wednesday july 6 2011, Nikkei 225 index rose ; After an early upmove and a subsequent fall, the Japanese stock market rallied higher on Wednesday with the Nikkei index hitting the 10,000 mark amid some brisk buying at a few heavyweight counters. However, with investors mostly looking to take some profits after recent strong gains, the market has retreated to lower levels and is currently trading flat.

The Nikkei 225 index, which rose to 10,005.4 after falling to 9,967.8, is currently trading at 9,978.7, up 6.2 points or 0.1 percent over its previous close.

Mining, manufacturing, marine transport and paper stocks are mostly trading higher. Electric power, pharmaceuticals, railway, oil and financial stocks are trading weak.

Nippon Paper Group shares are up nearly 4.5 percent. Pioneer Corp is up 4.3 percent. East Japan Railway, Hokuetsu Kishu Paper, Toto and Oji Paper are up 2 to 2.5 percent.

All Nippon Airways, Fast Retailing, UBE, Tokyo Electric Power, Bridgestone, Mitsubishi Chemicals, Yamaha Corp., Nisshin Steel, Fuji Heavy Industries, Mitsubishi Paper, Japan Steel Work and Inpex are also trading notably higher.

Among automobile stocks, Mitsubishi Motor, Suzuki Motor and Nissan Motor are trading in positive territory with smart gains, while Mazda Motor and Toyota Motor are trading lower.

In the banking space, Mizuho Trust & Banking, Mitsubishi UFJ Financial, Chiba Bank, Shizuoka Bank and Bank of Yokohama are trading weak.

Credit Saison, Daiwa Securities Group, CSK Corp., NGK Insulators, Kansai Electric Power, Sapporo Holdings, Takashimaya and Obayashi Corp are down with notable losses.

In the currency market, the U.S. dollar traded in the lower 81 yen level in early deals in Tokyo. The yen is currently trading at 80.92 to the U.S. dollar.

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