TOKYO: Tokyo stocks ended the morning session in positive territory on Wednesday, supported by better-than-expected Chinese economic data, dealers said.
The Nikkei 225 index at the Tokyo Stock Exchange was up 0.28 percent, or
24.28 points, to finish at 8,826.79 by the break, after opening slightly down. The Topix index of all first-section issues rose 0.57 percent, or 4.31 points, to 759.58.
Toshihiko Matsuno, head of research at SMBC Friend Securities, cited a better-than-expected Purchasing Managers Index in China as a factor supporting Japanese share prices.
The PMI improved to 50.5 in January from 50.3 in December, signalling that manufacturing activity in the world's second-biggest economy was picking up.
That was significantly more upbeat than economists' forecast of 49.6, which would have marked a slight contraction.
"The reading was over 50 when the market forecast was below 50, which was pretty significant," Matsuno said, but added the Chinese data alone would not boost Tokyo share prices further.
Tokyo stocks had opened slightly lower following weaker-than-expected US data showing continuing weakness in home prices and slumping consumer confidence.
The Conference Board's consumer confidence index fell to 61.1 in January from 64.8 a month earlier, showing a downturn in Americans' hopes for a rebound in the economy.
The S&P-Case Shiller Index on home prices across the country fell for the fifth straight month in November, despite record-low mortgage interest rates that analysts hoped would help the sector rebound.
The Dow Jones Industrial Average fell 0.16 percent to end the day at 12,632.91.
On Tuesday, a slate of major Japanese firms posted disappointing earnings after they were dented by the March 11 quake-tsunami disaster, record flooding in Thailand that hit manufacturers' supply chains, and a persistently high yen.
Toshiba eased 0.61 percent to 321 yen after it more than halved its net profit forecast for the year, and Honda Motor was up 0.33 percent at 2,675 yen despite its nine-month net profit slumping by almost three-quarters.
Mizuho Financial Group gained 1.73 percent to 117 yen even though its nine-month net profit was down more than a third.
All Nippon Airways rose 4.95 percent at 233 yen after its third-quarter earnings overshot estimates, although its nine-month earnings fell 10 percent.
On currency markets, the euro bought $1.3063 and 99.50 yen in Asian trade, compared with $1.3080 and 99.74 yen in New York late Tuesday. The dollar stood at 76.16 yen from 76.24.
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