Japanese stocks pare early gains as Fast Retailing weighs [Financial Post (Toronto, Ontario, Canada)]
FAST RETAILING UNSP/ADR (FRCOY)
NASDAQ:AMEX Investor Relations:
fastretailing.com/eng/ir
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Source: Financial Post
Advertisement The Nikkei share average was up 0.09% at 28,967.94 at the end of the morning session, having opened up 0.53% to break through the 29,000 mark. The index closed down 0.96% the previous day. The broader Topix index was up 0.27%. The yen earlier tested a milestone of its own, with the greenback rising to 136.38 against the currency for the first time since July 28. It last traded at 136.08. “While lots of stocks are making gains right now, some major contributors to the index that have led the recent rally like Fast Retailing are weak, so overall the movement is sluggish,” said a market participant at a domestic securities firm. The Nikkei is up 1.2% so far this week. Of its 225 constituents, 128 gained on Friday morning while 91 were down and six flat. Fast Retailing, the operator of clothing brands including Uniqlo, fell 1.45% by the break, which had the biggest impact on the index due to its price-weighting. Founder and Chief Executive Tadashi Yanai has been outs
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