Tokyo stocks end lower ahead of earnings reports

Tokyo stocks end lower ahead of earnings reportsTokyo - Stocks ended lower Tuesday in Tokyo amid a wait-and-see mood among investors ahead of corporate earnings reports and forecasts.

The benchmark Nikkei 225 Stock Average edged down 48.47 points, or 0.62 per cent, to close at 7,825.51.

The broader Topix index of all first section issues was also down 4.06 points, or 0.52 per cent, at 773.79.

Tokyo players bought some of the shares battered during the previous day, and markets began the afternoon session upbeat after the Bank of Japan announced a plan to buy up to 1 trillion yen (11.17 billion dollars) of shares held by commercial banks through April 2010.

But selling took over and stocks ended the day in negative territory because of pessimistic earnings outlooks for Japanese firms.

On currency markets at midday (0300 GMT), the dollar was quoted at 89.71-76 yen, up from Monday's 5 pm quote of 89.36-37 yen.

The euro traded at 1.2850-55 dollars, up from late Monday's quote of 1.2718-19 dollars, and at 115.34-39 yen, up from 113.65-69 yen. (dpa)

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