Japanese stocks fluctuated in Forex Trading Online


Japanese stocks fluctuated in Forex Trading Online as banks declined while carmakers gained on expectations the U.S. will lead a global economic recovery.

Toshiba Corp., Japan’s biggest chipmaker, gained 2.2 percent after the Nikkei newspaper said the company plans to develop a nuclear reactor with China.

The Topix index was little changed at 911.47 at the midday trading break in Tokyo, with about three stocks gaining for every two that dropped. The gauge swung between gains and losses more than 110 times. The Nikkei 225 Stock Average slid 0.1 percent to 10,385.44.

U.S. Labor Department data on Jan. 7 are forecast to show the unemployment rate dropped to 9.7 percent in December from 9.8 percent in the previous month as the economy added 140,000 jobs, according to the median estimate of economists in a Bloomberg survey.

U.S. factory orders increased 0.7 percent in November topping the median forecast of economists surveyed by Bloomberg News which called for a 0.1 percent drop, figures from the Commerce Department showed today in Washington. Orders for capital goods rebounded after falling in October.

Auto industry data today showed sales at General Motors Co., Ford Motor Co. and Chrysler Group LLC last month beat analysts’ estimates, indicating consumers ended the year on a strong note.

Crude oil for February delivery fell 2.4 percent to settle at $89.38 a barrel in New York, the biggest decline since Nov. 16. Copper futures for March delivery retreated 2 percent to close at $4.369 a pound in New York, the biggest drop for a most-active contract since Nov. 22.