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Nikkei edges higher, defensive shares give boost

Published 06/21/2009, 10:08 PM
Updated 06/21/2009, 10:16 PM
HMC
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TOKYO, June 22 (Reuters) - Japan's Nikkei stock average edged up 0.1 percent on Monday, led higher by defensive shares such as drugmakers and brewer Sapporo Holdings Ltd amid growing uncertainty about whether stocks are due for a correction.

The benchmark Nikkei rose 9.76 points to 9,796.02 after last week posting its worst week in three months. The broader Topix rose 0.2 percent to 920.93.

The Nikkei has risen some 45 percent from a March 10 low, and hit an eight-month high on June 12.

On Monday, Pioneer Corp fell 5.7 percent after the ailing maker of audio visual equipment said on Friday it would postpone a plan to raise 2.5 billion yen by selling new shares to Honda Motor. (Reporting by Elaine Lies)

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