STOCK MARKET WATCH - Wednesday, 11 January 2012

[xchrom]

55. Nikkei edges up; market eyes key Europe events

http://uk.reuters.com/article/2012/01/11/markets-japan-stocks-idUKL1E8CB0IQ20120111

TOKYO, Jan 11 (Reuters) - Japan's Nikkei average edged
higher on Wednesday, taking comfort from U.S. stocks' rise to
five-month high, though gains were capped ahead of key events in
Europe as the region battles its debt crisis.

Spain and Italy, now at the forefront of the euro zone debt
turmoil, will test investor appetite with bond auctions this
week, while the European Central Bank is due to hold a
rate-setting meeting.

Nomura Holdings, Japan's largest brokerage, was the
top percentage gainer on Tokyo's core 30 bluechip index
. The stock rose 3.2 percent to a one-month high after
the company's highest-ranking ex-Lehman Brothers executive
resigned amid heavy losses in its core investment banking
division.

Market players said the share price move was partly due to
short-covering following heavy losses last year, but some
traders voiced expectations for management changes to help
return the brokerage back profitability.