Japan state pension to cut corp bond buying -Nikkei

(Reuters) - The Nikkei said the GPIF, which manages about 82 trillion
yen of bonds and stocks, is likely to keep
corporate bond holdings at about 3 trillion to 4 trillion yen.




The GPIF intends to replace maturing corporate debt, which
means purchases would total about 400 billion yen a year -- less
than half the current amount, the report said this weekend.


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Japanese Power, Insurance Stocks Drop on Quake Concern; Sumitomo Advances

(Bloomberg) -- Japanese electric power producers and
insurance companies dropped after a magnitude 6.8 earthquake
struck northwest Japan, damaging a nuclear reactor operated by
Tokyo Electric Power Co.

The event will probably result in a push for more spending
on quakeproofing, the Nikkei newspaper reported.


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Yen Trades Near Record Low Against Euro as Stock Rally Fuels Risk Appetite

(Bloomberg) -- The yen traded near a record low
against the euro as a surge in global stocks encouraged investors
to borrow the currency to buy higher-yielding assets.

The Japanese yen headed for a second weekly drop as the
Nikkei 225 Stock Average rose by the most since May, following a
rally in the Dow Jones Industrial Average yesterday. The currency
also declined against the Australian dollar, a favorite for so-
called carry trades because of its 6.25 percent benchmark rate.


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Japan Small-Caps Rally as Tougher Post-Livedoor Standards Buoy Confidence

(Bloomberg) -- Shares of Japan's smallest listed
companies, Asia's worst performers last year, are staging a
comeback as tougher accounting standards revive confidence in
earnings reports and consumer spending rebounds.

The Russell/Nomura Small Cap Index, whose 1,332 members
have an average market value of $630 million, has outperformed
the Nikkei 225 Stock Average in six of the last seven weeks. The
measure trailed the Nikkei in all but two of the previous 17
months after executives of Internet provider Livedoor Co. were
arrested in January 2006 for fabricating profits, sparking
investor concern about the finances of second-tier companies.


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Japan's Nikkei 225 Average, Topix Advance; Canon and Komatsu Lead Gains

(Bloomberg) -- Japan's Nikkei 225 Stock Average rose
54.82, or 0.3 percent, to 18,104.33 as of 9:04 a.m. in Tokyo. The
broader Topix index added 5.97, or 0.3 percent, to 1773.69.

Canon Inc. and Komatsu Ltd. led the advances.


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Nikkei retreats, Honda, auto stocks down

(Reuters) - But the market received support from Mitsui & Co. Ltd. . Shares of the trading house climbed more than 3 percent after Goldman Sachs raised its target price on the stock to 3,100 yen from 2,170 yen.




Investors were also waiting for the closely watched settlement price, known in Japan as the special quotation or "SQ", which is calculated from the opening prices of the 225 shares on the Nikkei average on the second Friday of the month.


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GLOBAL MARKETS-U.S. stocks mixed, oil hits 11-month high

(Reuters) - NEW YORK, July 9 - U.S. stocks were mixed on
Monday as a gain in shares of plane maker Boeing Co. was
countered by disappointing profit outlooks and concerns about
oil prices that hit an 11-month high.




The Dow Jones industrial average rose but a broader
Standard & Poor's 500 Index was slightly weaker. The Nasdaq
Composite Index, however, turned lower after briefly touching
its highest level in more than six years. Global stock markets
were mostly higher and Japan's Nikkei closed at a seven-year
high.


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Japan's Nikkei 225 Average, Topix Are Little Changed; Mitsubishi UFJ Gains

(Bloomberg) -- Japan's Nikkei 225 Stock Average
was little changed at 18,099.73 at 9:04 a.m. in Tokyo.
The broader Topix index was little changed at 1765.59.

Mitsubishi UFJ Financial Group Inc. and TDK Corp. gained,
while Advantest Corp. and Mitsubishi Corp. declined.


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Japan's 10-Year Bonds Advance After Treasuries Gain on Flight to Safety

(Bloomberg) -- Japan's government bonds rose after
U.S. Treasuries gained last week as investors sought a haven
from possible hedge fund losses.

Ten-year bonds climbed for a second day as the Nikkei 225
Stock Average fell on concern losses in the U.S. subprime market
will be worse than expected, triggering a decline in global
stocks. Treasuries, which often lead Japan's bond prices, rose
June 22 after Bear Stearns Cos. offered to provide $3.2 billion
in loans to bail out one of its money-losing hedge funds.


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Japan's Topix Rises, Nikkei Is Little Changed; Mitsubishi Corp. Lead Gain

(Bloomberg) -- Japan's Topix index added 1.93, or
0.1 percent, to 1782.42 at 9:21 a.m. in Tokyo, after slipping as
much as 0.1 percent.

The Nikkei 225 Stock Average was little changed at
18,166.16.


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Japanese Stocks May Climb, Led by Canon, Exporters; Komatsu May Advance

(Bloomberg) -- Japanese stocks may gain after
declining U.S. bond yields eased concern that higher borrowing
costs will curb profit growth. Exporters such as Canon Inc. may
advance.

Machinery makers may also rise after the Nikkei newspaper
reported Boeing Co. agreed to help sell Mitsubishi Heavy
Industries Ltd's passenger jet. The newspaper also said Komatsu
Ltd. and Hitachi Construction Machinery Co. separately plan to
expand into the leasing business in China.


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Japan's Nikkei 225 Climbs; Denso Leads Advances Among Auto-Related Shares

(Bloomberg) -- Japan's Nikkei 225 Stock Average rose,
led by automotive-related shares such as Denso Corp. as concern
eased a slowdown in the U.S. economy will drag on the companies'
profit growth.

Energy producers advanced after the price of crude oil
climbed above $66 a barrel in New York.


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Japan Shares Gain on Stronger-Than-Expected U.S. Growth; Kobe Steel Surges

(Bloomberg) -- Japanese shares advanced after
reports showed employment and manufacturing growth in the U.S.,
Japan's largest overseas market, expanded more than expected.

Toyota Motor Corp., the world's No. 1 carmaker by market
value, added 1.2 percent. Kobe Steel Ltd. jumped the most in
three months after the Nikkei newspaper reported the company is
expanding output of aluminum auto parts as demand increases.


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Nikkei flat, Komatsu jumps but China concerns drag

(Reuters) - The Nikkei added 14.54 points to 17,973.42, the highest close since February 27. The broader TOPIX index gained 0.28 percent to 1,772.84.




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Japanese Shares Climb on Fed's U.S. Outlook, Led by Sony; Komatsu Jumps

(Bloomberg) -- Japanese shares rose, sending the
Nikkei 225 Stock Average to a three-month high, after the U.S.
Federal Reserve said growth will pick up in the world's biggest
economy.

The Fed's outlook helped the Standard & Poor's 500 Index
pass its 2000 record and eased concern a slump in Chinese stocks
will cause a sell-off worldwide.


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Japan's Nikkei Average, Topix Index Rise; Sony, Mitsui & Co. Lead Gain

(Bloomberg) -- Japan's Nikkei 225 Stock Average
rose 63.48, or 0.4 percent, to 17,544.69 at 9:02 a.m. in Tokyo.
The broader Topix index added 8.70, or 0.5 percent, to
1724.24.

Sony Corp. and Mitsui & Co. led the advances.


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Asian Stocks Climb for a Third Day, Nearing Record; Mizuho, Airlines Gain

(Bloomberg) -- Asian stocks rose for a third day,
led by Japanese banks after Mizuho Financial Group Inc. forecast
record earnings and the Nikkei newspaper said Mitsubishi UFJ
Financial Group Inc. will pay a higher dividend than planned.

A measure of financial shares posted the biggest gains
among 10 industry groups included in the Morgan Stanley Capital
International Asia-Pacific Index. Mizuho, Japan's second-largest
lender, jumped by the most in more than a year.


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Japan's Nikkei, Topix Rise; Toyota, Mitsubishi Heavy Industries Lead Gain

(Bloomberg) -- Japan's Nikkei 225 Stock Average
rose 94.88, or 0.5 percent, to 17,774.93 at 9:02 a.m. in Tokyo.
The broader Topix index added 8.39, or 0.5 percent, to
1739.93.

Toyota Motor Corp. and Mitsubishi Heavy Industries Ltd. led
the advances.


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