v-trader

The stock market in Japan ended in negative territory on Thursday, as fresh concerns about equity financing plans of companies emerged after Mitsubishi UFJ Financial revealed plans to raise 1 trillion yen through issue of fresh shares to bolster its Tier 1 capital after the markets closed yesterday. The strengthening of the local currency against the dollar also dampened market sentiment.

The benchmark Nikkei 225 Index declined 127.33 points, or 1.3%, to 9549, and the broader Topix index of all First Section issues fell 12.35 points, or 1.5%, to 838.

On the economic front, data released by the Ministry of Economy, Trade and Industry revealed that all-industry activity dropped a seasonally adjusted 0.6% month-on-month in September, compared to the 0.9% increase in the previous month.

Asian stocks exhibited a mixed trend on Wednesday as investors took some profits at higher levels amid some doubts about the pace of economic recovery.

While some traders looked to cash in on the recent strength in the markets, others were reluctant to sell stocks on concerns about missing out on any further upside in the markets. Gains if any, were modest as investors awaited a raft of U.S economic data such as CPI and housing starts for more clues about the health of the world's largest economy.