Japan stocks edge up on weaker yen, stalemate in U.S. stimulus talks weighs
By Stanley White
TOKYO, Aug 12 (Reuters) - Japanese stocks edged higher on Wednesday as some investors bought shares of major exporters on the back of a slightly weaker yen, although sentiment was cautious due to a stalemate in talks over additional U.S. economic stimulus.
The Nikkei 225 Index rose 0.36% to 22,832.63 by 0203 GMT, with the industrial and consumer discretionary sectors leading gains. The broader Topix was up 0.85%.
A weaker yen inflates exporters' earnings when repatriated from overseas. The yen, which briefly fell to the lowest in almost three weeks on Wednesday, last traded at 106.68 per dollar.
Many investors are closely watching debates in Washington about economic stimulus, because Republicans and Democrats are struggling to agree the details of a package needed to support the world's largest economy.
The biggest percentage gainers in the index were environmental plant manufacturer Ebara Corp, up 10.02%, followed by precision parts maker NSK Ltd, gaining 5.13%, and Hitachi Construction Machinery Co Ltd, up by 4.95%.
The top percentage losers in the index were Internet commerce firm Rakuten Inc, down 6.94%, followed by drugs maker Eisai Co Ltd, losing 4.68%, and Japan Steel Works Ltd, down by 3.94%.
SoftBank Group Corp fell 2.61% as investors booked profits following its earnings announcement after market hours on Tuesday.
There were 177 advancers on the Nikkei index against 42 decliners.
The volume of shares traded on the Tokyo Stock Exchange's main board was 0.64 billion, compared with an average of 1.21 billion in the past 30 days. (Reporting by Stanley White; Editing by Subhranshu Sahu)
