Japanese Stocks Swing Between Gains and Losses on Light Volume

Japanese shares swung between gains and losses on light volume as agricultural stocks and drugmakers advanced while commodities shares led declines following a drop in U.S. stocks.

The Topix index climbed 0.2 percent to 1,532.06 at the trading break in Tokyo after sliding as much as 0.5 percent, with about twice as many shares rising as falling. Volume was about 30 percent below the 30-day intraday average. The measure posted its biggest gain since Dec. 17 on Monday on the lowest turnover in a year. The Nikkei 225 Stock Average was unchanged at 18,873.27. The yen traded little changed at 120.31 per dollar after falling for the first time in five days yesterday.

The Topix industry groups for iron and steel slumped the most, followed by non-ferrous metal producers and shippers. Fishing and agricultural stocks advanced with drugmakers. Ono Pharmaceutical Co. added 1.1 percent. Alpine Electronics Inc. jumped 8.8 percent after Nomura Holdings Co. raised its rating on the car audio maker.

Source : Bloomberg