December 11, 2013 / 6:30 AM / in 4 years

Nikkei extends losses as investors trim risk exposure; Yahoo Japan surges

TOKYO, Dec 11 (Reuters) - Japan's Nikkei share average
declined on Wednesday, which  traders attributed to a reduction
in investor exposure to risky assets as they waited to see if
the U.S. Federal Reserve will taper its stimulus soon.
    The Nikkei ended down 0.6 percent at 15,515.06,
extending its declines into a second day. The Topix fell
0.5 percent to 1,250.45.
    Yahoo Japan Corp outperformed the market, soaring
as much as 6.6 percent to a 7 1/2-year high after JPMorgan
started its coverage at 'overweigh.' The gains built on a rally
over the past two days of more than 10 percent after Goldman
Sachs added it to its 'conviction buy' list. 
    Yahoo ended up 4.7 percent and was the fourth most traded
stock by turnover.
    Internet gaming firm Gree Inc surged as much as 20
percent before it ended up 2.3 percent after Goldman Sachs
upgraded its rating to 'neutral' from 'sell'. It
was the second most traded stock by turnover.
    On the losing ledger, Mixi Inc nosedived 17
percent, giving up all of its previous session gains, after 
Goldman Sachs's downgraded its stock to 'sell' from 'neutral'.
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