Samsung leads Nikkei higher
TOKYO, Japan (AP) -- Tokyo stocks were mixed midday Friday after South Korean high-technology giant Samsung Electronics Co. reported better-than-expected earnings for the fourth quarter of last year, countering negative sentiment from Wall Street's losses overnight.
The U.S. dollar was up against the Japanese yen and the euro.
The benchmark Nikkei Stock Average of 225 selected issues rose 17.74 points, or 0.16 percent, to 11,375.96 points midday Friday. On Thursday, the index lost 95.17 points, or 0.84 percent.
The broader TOPIX, or the index of all issues on the Tokyo Stock Exchange's first section, lost 0.86 points, or 0.08 percent, to 1,139.21 points. The TOPIX fell 7.85 points, or 0.68 percent, the day before.
The dollar bought 102.64 yen at 11 a.m. (0200 GMT) Friday, up 0.29 yen from late Thursday and above the 102.51 yen it bought in New York overnight.
Tokyo shares got a boost after Samsung Electronics said its fourth-quarter net profit fell 2 percent from a year earlier, but still beat market forecasts. The company also announced a bullish investment plan for this year.
Advantest Corp. and Hitachi Ltd. were among the gainers Friday morning.
Sliding shares in New York overnight, however, weighed on the market.
U.S. stocks were pummeled Thursday due to a six-week high in oil prices, rising unemployment and a disappointing forecast from General Motors Corp.
In New York overnight, the Dow Jones industrial average fell 111.95, or 1.05 percent, to 10,505.83. The Nasdaq composite index lost down 21.97, or 1.05 percent, at 2,070.56.
In currencies, the dollar rose against the yen and the euro, following through its strength in New York overnight after European Central Bank President Jean-Claude Trichet downplayed euro-zone inflation fears.
The euro fell to US$1.3144 early Friday in Tokyo from $1.3248 late Thursday. The euro also weakened against the Japanese currency, to 135.29 yen from 135.58 yen.
The yield on Japan's benchmark 10-year government bond fell to 1.3550 percent from Thursday's finish of 1.3700 percent. Its price rose 0.13 to 100.39 points.
