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Nikkei edges higher but stalled, eyes on earnings
October 13, 2009 / 6:07 AM / in 8 years

Nikkei edges higher but stalled, eyes on earnings

TOKYO, Oct 13 (Reuters) - Japan’s Nikkei stock average edged up 0.6 percent on Tuesday, buoyed by exporters such as Honda Motor Corp (7267.T) after the S&P 500 posted a sixth straight day of rises, but stalled ahead of key U.S. and Japanese earnings.

JFE Holdings (5411.T) and other steel shares climbed after Goldman Sachs hiked its ratings on the companies and upgraded its coverage views on the steel sector in Asia to “attractive” from “neutral”, saying demand for steel is likely to rise in 2010.

The benchmark Nikkei .N225 rose 60.17 points to 10,076.56, while the broader Topix .TOPX gained 0.4 percent to 901.40. (Reporting by Elaine Lies)

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