Japanese shares mixed on stronger yen, carmakers' rebound




Japanese stocks were mixed Friday as some export-oriented issues were dragged down by a stronger yen but carmakers were bolstered by news that chipmaker Renesas Electronics Corp would resume operations earlier than planned after the March 11 earthquake and tsunami.

The Nikkei 225 Stock Average lost 3.56 points, or 0.04 per cent, to close at 9,682.21. The broader Topix index was up 0.46 points, or 0.05 per cent, at 842.18.

For the week, the Nikkei rose 0.95 per cent while the Topix edged up 0.11 per cent.

Renesas, a key supplier of chips to the automotive industry, helped carmakers rebound in the afternoon. Toyota Motor Corp surged 3.13 per cent, Nissan Motor Co soared 3.62 per cent and Honda Motor Co 2.28 per cent.

The yen rose against major currencies, hovering in the higher 81-yen level to the dollar. A stronger yen makes Japanese goods more expensive abroad and erodes repatriated earnings.

On currency markets at 3 pm (0600 GMT), the dollar traded at 81.86-88 yen, down from Thursday's 5 pm quote of 82.07-09 yen.

The euro traded at 1.4579-4584 dollars, down from 1.4640-4641 dollars Thursday, and at 119.38-40 yen, down from 120.15-19 yen.