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Nikkei edges down, but resource shares rise

Published 06/23/2009, 10:08 PM
Updated 06/23/2009, 10:56 PM

TOKYO, June 24 (Reuters) - Japan's Nikkei stock average edged down 0.1 percent on Wednesday in thin trade, weighed down by wariness ahead of a Federal Reserve meeting, but energy shares such as Inpex rose after crude oil surged the previous day.

Showa Shell Sekiyu surged over 7 percent after a media report that it planned to work with Saudi Aramco Oil Co to jointly set up small-scale solar power facilities in Saudi Arabia next year and later in emerging countries.

The company, Japan's fifth-largest oil refiner, later said it and Saudi Aramco had agreed to start a feasibility study on the solar power business in Saudi Arabia.

The benchmark Nikkei shed 5.52 points to 9,544.09, extending Tuesday's 2.8 percent loss. The broader Topix fell 0.2 percent to 899.63. (Reporting by Elaine Lies)

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