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Nikkei rises on U.S. data but resistance looms

Published 06/10/2011, 02:03 AM
Updated 06/10/2011, 02:04 AM
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TOKYO, June 10 (Reuters) - Japan's Nikkei share average rose on Friday, taking cues from receding worries over the U.S. economy after a spike in export data, though market players remained sceptical it would break through resistance from its 200-day moving average.

Gains were trimmed in afternoon trade on investor caution ahead of the announcement at 3 p.m. (0600 GMT) of Toyota Motor Corp's earnings forecast for the year to March 31.

The benchmark Nikkei climbed 0.5 percent to 9,514.44 after hitting an intraday high of 9613.75, rising above its 25-day moving average for the first time in more than a week. The broader Topix gained 0.5 percent to 817.38.

(Reporting by Ayai Tomisawa; Editing by Joseph Radford)

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