Tokyo - The Tokyo market reversed its early gains to end Thursday's trading lower as economic worries outweighed optimism created by a weaker yen.
Tokyo players bought mainly export-oriented issues in morning trading as the yen's value dropped. Market sentiment was also boosted by a report the previous day about a government plan to use public funds to buy stocks to try to avoid further declines in share prices.
But investors returned to selling in the afternoon to lock in profits from gains in the morning and on Wednesday on lingering economic worries.
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Tokyo - The Tokyo market rose Thursday as investors bought export-oriented issues on a weaker yen.
Buying was also spurred by a report the previous day about a government plan to use public funds to buy stocks to avoid further declines in share prices.
The benchmark Nikkei 225 Stock Average extended its gains from Wednesday, rising 99.09 points, or 1.33 per cent, in morning trading to 7,560.31.
The broader Topix index of all first section issues also rose for a second day, up 4.67 points, or 0.63 per cent, at 750.29.
The stock of Dr Reddy's (DRL) has fallen 8% in the past month to Rs 397.90 per share compared with a 1.7% increase in the BSE Sensex.
Lack of clarity on execution of the 33 contracts (across eight products) on the Allgemeine Ortskrankenkassen (AOK) tender due to legal challenges has weighed heavy on the stock in recent past. The eight products are likely to enjoy relatively lesser margins, but volumes are expected to increase. Supplies begin in March 2009 and are valid for two years, but completion of the tender may be delayed.
Some European players could pose legal hurdles, questioning the terms used to award contracts by AOK. DRL has not bagged contracts for any of its top 10 products under the AOK tender.
Tokyo - The Tokyo market reversed its early gains to end Thursday's trading lower as economic worries outweighed optimism created by a weaker yen.
Tokyo - The Tokyo market rose Thursday as investors bought export-oriented issues on a weaker yen.
