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LEAD: Tokyo stocks fall before U.S. Fed statement, resources gain on gold.


TOKYO, Nov. 4 Kyodo

(EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. : ADDING DETAILS AND PRICES)

Tokyo stocks fell slightly Wednesday morning after a mixed performance on Wall Street, with support from some resource shares on record-high gold prices, while investors await the results of a two-day U.S. Federal Open Market Committee meeting.

The 225-issue Nikkei Stock Average Nikkei stock average

Applies mainly to international equities. Price-weighted average of 225 stocks of the first section of the Tokyo Stock Exchange started on May 16, 1949. Japanese equivalent of the US Dow.
 lost 6.67 points, or 0.07 percent, to 9,796.28 from Monday's three-week closing low. The broader Topix index of all First Section issues on the Tokyo Stock Exchange Tokyo Stock Exchange

Main stock market of Japan, located in Tokyo. It opened in 1878 to provide a market for the trading of government bonds newly issued to former samurai.
 was down 1.67 points, or 0.19 percent, to 878.87.

Decliners were led by metal product, food and precision machinery issues. Major gainers included the nonferrous metal, oil and coal product, and consumer finance sectors.

''The downside is limited as luckily there wasn't much volatility in U.S. stocks while Japanese markets were closed (Tuesday) for a national holiday,'' said Nikko Cordial Securities Inc. equity manager Hiroichi Nishi.

Buying helped lift the Nikkei briefly into positive territory as some investors felt stocks were oversold Oversold

In technical analysis, it is a market in which the volume of selling that has occurred is greater than the fundamentals justify.

Notes:
It is the opposite of overbought.
 given the benchmark index's more than 5 percent decline over the week through Monday, brokers said.

Resource-related stocks, such as nonferrous metal issues, advanced after gold futures surged to record highs Tuesday in New York. Sumitomo Metal Mining climbed 57 yen, or almost 4 percent, to 1,496 yen, and Asahi Holdings, a precious metal recycling firm, jumped over 4 percent.

''But on the whole, investors are finding it difficult to make aggressive moves as they want to first see Federal Reserve Chairman Ben Bernanke's statement later today on the FOMC's assessment of the U.S. economic outlook, as well as upcoming U.S. jobs figures,'' Nishi said.

Market attention is also focused on policy meetings of the Bank of England Bank of England, central bank and note-issuing institution of Great Britain. Popularly known as the Old Lady of Threadneedle Street, its main office stands on the street of that name in London.  and European Central Bank European Central Bank (ECB)

Bank created to monitor the monetary policy of the countries that have converted to the Euro from their local currencies. The original 11 countries are: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal,
, respectively, over the next two days as investors watch for monetary policy changes, brokers said.

On the First Section, declining issues outnumbered advancing ones 977 to 518, with 181 others ending the morning unchanged.

Bank shares slumped as worries about stricter capital requirements linger. Mitsubishi UFJ Financial Group Mitsubishi UFJ Financial Group, Incorporated (株式会社三菱UFJフィナンシャル・グループ , the morning value leader, lost 4 yen, or almost 1 percent, to 485 yen, and volume leader Mizuho Financial Group Mizuho Financial Group, Inc. (株式会社みずほフィナンシャルグループ  fell 1 yen, or about half a percent, to 182 yen.

Semiconductor shares tracked their U.S. peers' weakness, with Tokyo Electron down 230 yen, or over 4 percent, to 4,880 yen.

Bucking the trend, Fast Retailing rose 470 yen, or over 3 percent, to 15,590 yen on a surge in October sales at its Uniqlo casual clothing stores.

Trading was thin, with volume on the main section coming to 775.05 million shares, down from Monday morning's 929.03 million.

The TSE's Second Section index was down 0.99 point, or 0.05 percent, to 2,159.47 on a volume of 71.71 million shares. On the Osaka Securities Exchange Osaka Securities Exchange (OSE)

Established after World War II, one of the three major securities markets in Japan.
, the near-term December Nikkei 225 index futures contract was down 30 points to 9,800.
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Publication:Japan Weekly Monitor
Geographic Code:9JAPA
Date:Nov 9, 2009
Words:491
Previous Article:Forward foreign exchange quotations.
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