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Nikkei seen steady, ECB move may offset profit-taking
2012年2月29日 / 晚上11点29分 / 6 年前

Nikkei seen steady, ECB move may offset profit-taking

TOKYO, March 1 (Reuters) - Japan's Nikkei average is
expected to tread in a range on Thursday, with profit-taking
likely to emerge after a rally of more than 10 percent in
Feburary but support seen firm after the European Central Bank's
liquidity operation.	
    The Nikkei is set to trade between 9,700 and 9,800 on
Thursday, strategists said, after Nikkei futures in Chicago closed at 9,755, up 45 points or 0.5 percent, from the
Osaka close of 9,710.	
    "Japanese markets only recently jumped into the global
equities rally so even if there is profit-taking I doubt that
the index will fall much in the weeks ahead. That said, stocks
that were bought heavily in February may see some profit-taking
today," said Kenichi Hirano, operating officer at Tachibana
    The Nikkei ended flat at 9,723.24 on Wednesday, but logged
its best February performance in two decades, while the broader
Topix slipped 0.3 percent to 835.96.	
    A total of 800 banks grabbed 530 billion euros at the ECB's
offering of cheap three-year funds on Wednesday, slightly more
than analysts had expected for the bank's second long-term
refinancing operation. 	
    "The amount offered by the ECB was within expectations and
adds to the excess liquidity already being offered by central
banks that is currently supporting markets," said Hirano.	
    U.S. stocks slipped overnight after the Federal Reserve
Chairman Ben Bernanke offered a tempered view of the U.S.
economy and gave no hint of further easing moves, disappointing
investors hoping for a signal of more stimulus.	
>Wall St snaps 4-day advance after Bernanke comments        
>Dollar gains vs euro, yen as Bernanke gives no QE3 signal 
>US bonds slip as Bernanke fails to signal stimulus        
>Gold down 5 pct, biggest one-day drop in 3 years         
>Oil ends Feb. higher on upbeat U.S. Fed report            	
    Japan's No. 3 mobile phone operator Softbank Corp won a
coveted 900 Megahertz spectrum for high-speed mobile services,
Japan's Communications Ministry panel said on Wednesday.
    Dainippon Sumitomo Pharma said on Wednesday that it will buy
U.S. Boston Biomedical Inc for $200 million to expand its cancer
treatment business and also said it would make up to $540
million in milestone payments for two experimental medicines to
the unlisted Norwood, Massachusetts company, which specialises
in cancer drugs. 	
    Daiichi Sankyo Co, Japan's No.3 drugmaker, will tie up with
Britain's pharmaceutical giant GlaxoSmithKline plc to
bring new products to the Japanese market, the Nikkei said on
    Mitsubishi Heavy Industries Ltd may handle the entire launch
operation for Japan's H-IIB rocket on behalf of the nation's
aerospace agency, the Nikkei reported on Thursday.

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